The 145% tariff already did its damage

Even though the 145% tariff on Chinese imports only lasted a month, it already inflicted its scars on the economy. Global trade is just not something you can turn off and on like that.

Some companies got really unlucky. Like those whose goods arrived at U.S. ports before the pause. If a medium size company had a million dollars worth of goods imported, they had to pay an extra million and a half dollars on top of that - just for the tariff.

Today we are bringing you a portrait of this unfathomably high tariff. What a month of 145% tariffs looked like and felt like for three people in the global economy whose lives were all affected and still will be. The ones who got lucky and the ones who got really unlucky.

This episode of Planet Money was produced by Emma Peaslee and edited by Jess Jiang. It was engineered by Jimmy Keeley and fact-checked by Willa Rubin. Alex Goldmark is our executive producer.

Check out the live cargo map here.

Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter. Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Music: NPR Source Audio - "Bass Talks," "Bassline Motion," and "What Da Funk"

(Image credit: Sarah Gonzalez)