President Trump's new round of tariffs took effect today. It will bring in billions of dollars to the government, in part paid for by U.S. importers who can decide whether to pass that cost onto American families. But are these tariffs legal? Today on the show, the arguments for and against the president's tariffs and what happens to that tariff revenue if Trump loses. Related episodes: <a href="https://www.npr.org/2025/02/05/1229167003/mckinley-trump-tin-tariffs">Trump's tariff role model</a> <a href="https://www.npr.org/2025/04/23/1246593582/donald-trump-tariffs-trade-marc-fisher-michael-kranish">Dealmaker Don v. Tariff Man Trump</a> <a href="https://www.npr.org/2025/06/11/1253992700/tariffs-ieepa-trump-legal-emergencies-law">Are Trump's tariffs legal?</a> For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at <a href="http://plus.npr.org/">plus.npr.org</a>. Fact-checking by <a href="https://www.npr.org/people/g-s1-26724/sierra-juarez">Sierra Juarez</a>. Music by <a href="https://dropelectric.bandcamp.com/">Drop Electric</a>. Find us: <a href="https://www.tiktok.com/@planetmoney">TikTok</a>, <a href="https://www.instagram.com/planetmoney/">Instagram</a>, <a href="https://www.facebook.com/planetmoney">Facebook</a>, <a href="https://www.npr.org/newsletter/money">Newsletter</a>. Learn more about sponsor message choices: <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a> <a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>

More for Palantir, less for mRNA, and a disaster database redemption arc

A bite-sized show about big ideas. From the people who make Planet Money, The Indicator helps you make sense of what's happening in today's economy. It's a quick hit of insight into money, work, and business. Monday through Friday, in 10 minutes or less.