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July 29, 2025 17 mins

Experts agree: When it comes to tariffs, Europe just got trounced. So did the American consumer, who will pay these taxes. Today on the show, Rob Armstrong and Ben Hall, the FT’s Europe editor, discuss the terms of the deal, and why Europe didn’t retaliate. Also they go long US oil production and short the long-term health of American manufacturing. 


Sign up for the FT Weekend Festival at ft.com/festival and use the promo code “FTPodcasts” for 10 per cent off. 


For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.


You can email Robert Armstrong and Katie Martin at unhedged@ft.com.


Read a transcript of this episode on FT.com


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