Bitcoin hit a record $122,000 this morning as the House of Representatives ramps up for what's being called "Crypto Week," where lawmakers will be taking up three bills that could lay the foundation for how digital assets are regulated. We'll hear more about what to expect. And later, we'll unpack market reactions to daily swings in tariff policy and learn how China's rare earth metal dominance comes at a significant environmental cost.

This week, we get a few snapshots of what inflation is doing. Everyone wants to know when tariffs will start showing up in the overall data, because they mostly haven't yet, partly due to the Federal Reserve's tight monetary policy. But that doesn't mean tariffs aren't affecting the economy. We'll discuss. Also: how Europe is trying to keep U.S. trade tensions from boiling over, and where copper imports are being diverted ahead of looming tariffs.

From the BBC World Service: The European Union is looking further afield for trade agreements after weeks of testy talks with the U.S. We'll hear how European leaders are feeling and discuss the likelihood of any trade deals. Plus, China holds a powerful card in the global economy: control over rare earth minerals, used in everything from smartphones to wind turbines and electric cars. We travel to the country’s two biggest rare earth mining regions.