US President Donald Trump’s approach to the economy has left investors on edge and markets unsure how to react. But his tariffs, trade deals and Truth Social posts have left some corporations better off than others. The FT’s Derek Brower and Gregory Meyer break down who is coming out on top, and who is getting left behind.

Mentioned in this podcast:

Triumphing under Trump: the corporate winners and losers

Is Donald Trump’s ‘big, beautiful bill’ a political curse for Republicans?

Sign up for the FT’s Swamp Notes newsletter here

Swamp Notes is produced by Henry Larson. This week’s episode was mixed by Samantha Giovinco. The FT’s acting co head of audio is Topher Forhecz. Special thanks to Pierre Nicholson.

CREDIT: The White House, LiveNOW from Fox, Forbes

Hosted on Acast. See acast.com/privacy for more information.

After more than a week of fighting between Israel and Iran, US President Donald Trump bombed the Islamic republic and then announced a ceasefire. Former national security adviser John Bolton and the FT’s chief foreign affairs commentator Gideon Rachman share their views on what America’s relationship with Iran should look like next and what will happen to the embattled regime.

Mentioned in this podcast:

Email Marc with your questions (Marc.filippino@ft.com)

How Israel inadvertently reawakened Iranian nationalism

Early intelligence suggests Iran’s uranium largely intact, European officials say

Trump’s fragile peace in the Middle East

Listen to the Rachman Review podcast

Sign up for the FT’s Swamp Notes newsletter

Swamp Notes is produced by Henry Larson. Kelly Garry mixed this week’s episode. The FT’s acting co-head of audio is Topher Forhecz. Special thanks to Pierre Nicholson.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

As the conflict between Israel and Iran enters its second week, US President Donald Trump is openly considering bombing the Islamic republic. If he does, he runs the risk of angering a faction in his coalition that has long derided US military intervention overseas. The FT’s Edward Luce and Guy Chazan unpack the conservative power players and Maga influencers who now find themselves on opposite sides.

Mentioned in this podcast:

Donald Trump’s anti-war pledge tested as Israel’s attack on Iran splits Maga base

Maga’s battle with Israel for Trump’s mind

How Trump can offer Iran a way out

Sign up for the FT’s Swamp Notes newsletter here

Swamp Notes is produced by Henry Larson and Lauren Fedor. This week’s show was mixed by Kelly Garry. The FT’s acting co head of audio is Topher Forhecz. Special thanks to Pierre Nicholson.

CREDIT: Tucker Carlson, OANN, Christian Science Monitor, Fox News

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

US President Donald Trump deployed federal troops to quell protests in Los Angeles the same week of a massive military parade in Washington, DC. How might this change the relationship between the country and its military? James Politi, the FT’s Washington bureau chief, and Chris Mirasola, law professor at the University of Houston, break down how the administration is defending its growing comfort with displays of armed force.

Mentioned in this podcast:

Donald Trump tests limits of presidential authority by sending troops into Los Angeles

US court halts order demanding Donald Trump return control of California’s National Guard

Sign up for the FT’s Swamp Notes newsletter here

Swamp Notes is produced by Henry Larson, Katya Kumkova and Lauren Fedor. Kelly Garry mixed this episode. The FT’s acting co head of audio is Topher Forhecz. Special thanks to Pierre Nicholson.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

US President Donald Trump doubled tariffs on steel to 50 per cent this week. He’s also allowing Japan’s Nippon to buy the US Steel Corporation. The moves are meant to bring back manufacturing to America’s steel industry. But will they? FT senior trade writer Alan Beattie and Zehra Munir, the FT’s industrial reporter, discuss whether Trump can make good on a popular promise.

Mentioned in this podcast:

It’s always steel — tariffs provide Trump with a familiar trade weapon

Donald Trump’s US Steel gamble: Pennsylvania workers warm to Nippon tie-up

Sign up for the FT’s Trade Secrets newsletter here

Sign up for the FT’s Swamp Notes newsletter here

Credit: The White House YouTube channel

Swamp Notes is produced by Katya Kumkova, Henry Larson and Lauren Fedor. The FT’s acting co head of audio is Topher Forhecz. Special thanks to Pierre Nicholson.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

In a special six-part series of The Economics Show, Martin Wolf, the FT’s chief economics commentator, and Nobel Prize-winning economist Paul Krugman discuss the economic events reshaping the world in the wake of US President Donald Trump’s election.

Subscribe and listen to this series on The Economics Show on Apple Podcasts, Spotify, Pocket Casts or wherever you listen to podcasts.

Episodes will also be available on the FT’s YouTube channel.

If you’d like to get in touch and ask Martin and Paul a question, please email economics.show@ft.com

Read Martin’s FT column here

Subscribe to Paul’s substack here

Hosted on Acast. See acast.com/privacy for more information.

Republicans are often known as the party of fiscal responsibility. This week, Swamp Notes unravels the US House of Representatives’ “big, beautiful” bill and its uncertain path forward in the Senate. Edward Luce, US national editor and columnist, and James Politi, Washington bureau chief, explain what made congressional Republicans go all in on big spending, tax cuts and more debt.

Subscribe to the new Swamp Notes feed here.

Mentioned in this podcast:

Read Edward Luce’s column on the new ‘moron premium’ for Treasuries

US House passes Donald Trump’s showpiece tax bill

Sign up for the FT’s Swamp Notes newsletter here

Swamp Notes is produced by Lauren Fedor, Katya Kumkova and Henry Larson. Topher Forhecz is the acting co-head of audio. Special thanks to Pierre Nicholson.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

This week, Swamp Notes goes to London for a live recording. Katie Martin, host of the Unhedged podcast, and Chris Giles, author of the FT’s Central Banks newsletter, discuss what Trump’s next few months might be like. Have markets truly recovered from the “liberation day” shock? What happens after the 90-day tariff pause is over? Our guests weigh in.

Mentioned in this podcast:

Read the latest Chris Giles on Central Banks column here

Listen to the Unhedged podcast here

Sign up for the FT’s Swamp Notes newsletter here

Swamp Notes is produced by Katya Kumkova. Topher Forhecz is the acting co-head of audio. Special thanks to Mischa Frankl-Duvall and Pierre Nicholson.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.