The Trump administration set August 1 as the deadline for countries to strike new trade agreements with the U.S. Some met the deadline, and others did not. The administration says it's about trading away some efficiency in commerce for a new trade system that is "fair and balanced." Mentioned less often is the role tariffs play in raising taxes to fund government spending. Plus, what is the difference between fine art and the art market? Art critic Blake Gopnik joins us to discuss the evolving world of art and commerce.

Aired August 1, 2025

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