Wall Street thought Donald Trump was bluffing about his tariff plans. The stock market rallied after his election. But the reality has started setting in. Trump is doubling down on tariffs, even as he warned Americans that the economy may experience a “period of transition,” insisting this is just short-term pain. So what exactly is Trump’s theory here? And how much pain should we expect? Answering those questions requires a bit of a tariffs primer. And the economist Kimberly Clausing kindly agreed to come on the show, walk through the basics, and help me make sense of what Trump is doing here. Clausing has modeled the possible costs and consequences of the tariffs Trump has proposed, and she breaks down how much you and I might end up paying. Clausing is a senior fellow at the Peterson Institute for International Economics, a professor at U.C.L.A. and the author of “Open: The Progressive Case for Free Trade, Immigration, and Global Capital.” This conversation contains strong language. Note: This conversation was recorded on Wednesday, March 5.

Depending on the data you look at, between 10 and 40 percent of people who get Covid will still have symptoms months later. For some, those symptoms will be modest. A cough, some fatigue. For others, they’ll be life-altering: Debilitating brain fog. Exhaustion. Cardiovascular problems. Blood clotting. This is what we call long Covid. It’s one term for a vast range of experiences, symptoms, outcomes. It’s one term that may be hiding a vast range of maladies and causes. So what do we actually know about long Covid? What don’t we know? And why don’t we know more than we do? Dr. Lekshmi Santhosh is an assistant professor at UCSF Medical Center, and the founder and medical director of UCSF’s long Covid and post-ICU clinic. Her clinic opened in May 2020 and was one of the first to focus on treating long Covid patients specifically. We discuss the wildly broad range of symptoms that can qualify as long Covid; the confusing overlaps between Covid symptoms and other diseases; whether age, race, sex and pre-existing conditions affect a person’s chances of contracting long Covid; why it’s so difficult to answer a seemingly simple question like, “How many people have gotten long Covid?”; what to make of a recent study that seemingly undermines the biological existence of long Covid; how worried we should be about correlations between Covid and medical disasters like heart attacks, strokes and abnormal blood clotting; and more.