2025-10-14
8 分钟Hi, John Prado here.
I host Checks and Balance, our podcast on US politics.
Welcome to Editors Picks.
Here's an article from the latest edition of The Economist, handpicked by our team and read aloud.
I hope you enjoy it.
President Donald Trump is building a wall around the world's largest economy.
As America's tariff barriers on everyone else have gone up,
so has the drawbridge, making it harder for migrants to enter the country.
The President wants to turn America into a fortress that keeps out foreign incursions.
In fact,
he is cutting America off from the very goods and talent that helped make its economy the envy of the world.
Already the damage is starting to show.
Once wreaked, it will not easily be reversed.
That is not how investors see it.
In the six months since Liberation Day,
when Mr. Trump slapped tariffs on America's trading partners,
financial markets have swung from panic to euphoria.
Elsewhere the picture is mixed.
Inflation has risen only a little as America's importing businesses have absorbed much of the tariff pain.
Although employment has stagnated as migration flows have stopped,