South Korea has been paralysed since its president declared martial law in December. Even after his impeachment, politicians face a divided polity and battered economy. Why governments should pay attention to the “Henry” – High Earner, Not Rich Yet (9:49). And what tiffs over tofu teach us (15:38).

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After months of bluster, he’s finally done it. At a ceremony in the White House Rose Garden, Donald Trump overturned decades of American trade policy with a simple signature. The new wave of trade restrictions, if implemented in full, will raise tariffs to the highest level in more than a century. So how bad could it get?

Hosts: Mike Bird and Ethan Wu. Guests: The Economist’s Simon Rabinovitch; and Douglas Irwin, a professor of economics at Dartmouth College.

Transcripts of our podcasts are available via economist.com/podcasts.

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SHOW-NOTES TEXT (with links and timestamps; 60 wds max)

Even in the run-up to Donald Trump’s “Liberation Day” tariff hikes, few had expected such colossal levies. Our correspondent explains how they will shake America’s economy and global trade. After Sudanese government forces retake Khartoum, will this alter the course of the civil war (10:32)? And Shonda Rhimes is shaping watching habits (18:12).

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Months ago, holding an election in wartorn Ukraine seemed impossible. Now plans are being made. Our correspondent explains the prospects for the campaign – and the chance of a ceasefire, which must precede it. How did “The Economist” cover American tariff hikes in the 1930s (8:29)? And why daylight savings time may not be so brilliant for your health (16:14).

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Marine Le Pen is one of France’s most popular politicians, who has brought the National Rally party to the heart of the political landscape. Our correspondent explains the implications of a court ruling that stops her running for president in 2027. Why rents keep rising in the rich world (8:29). And remembering Oleg Gordievsky, the Russian spy turned British agent (13:03).

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Civil war in Myanmar is hampering relief efforts after the devastating earthquake on Friday, as the ruling military regime intensifies attacks on resistance fighters. The impact of Donald Trump’s attempt to silence “Voice of America” and other federally-funded broadcasters (8:45). And, “The Economist” reveals the best places to be a working woman in 2025 in its annual glass-ceiling index (17:37).

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No surprises here: The Economist reckons tariffs are a terrible trade tool. But what is most clearly harming American businesses and scaring off investors is persistent uncertainty about them. Our correspondent sees the effects of one non-military donor to Ukraine: help not to fight but to preserve something worth fighting for (10:57). And why “Adolescence” tops Netflix’s viewing numbers the world over (19:54).

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For Europe’s hard-right politicians, Donald Trump’s second White House bid looked like validation and opportunity. Now that he is in it, the tensions and trade-offs are becoming clear. The Houthis’ grip over Yemen and the Red Sea is only strengthening, even as other Iranian proxies are waning (10:03). And a look at the boom in Christian entertainment (15:51).

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