Oil and gas traders are confronting a potential worst-case scenario after the US-Israeli strike on Iran Saturday: the Strait of Hormuz is effectively paralyzed, Saudi Arabia’s largest refinery is shut and Iran has hit Qatar’s giant liquified natural gas export facility.

On this week’s episode of Trumponomics, host Stephanie Flanders speaks to Bloomberg Opinion columnist Javier Blas and Ziad Daoud, chief emerging markets economist for Bloomberg Economics. Together they unpack the unsettlingly wide range of outcomes from the war, and how Russia will gain economically the longer the conflict continues.

Read more: 
https://www.bloomberg.com/opinion/articles/2026-03-04/iran-war-the-most-precious-commodity-is-water-not-oil

Oil and gas traders are confronting a potential worst-case scenario after the US-Israeli strike on Iran Saturday: the Strait of Hormuz is effectively paralyzed, Saudi Arabia&rsquo;s largest refinery is shut and Iran has hit Qatar&rsquo;s giant liquified natural gas export facility.
On this week&rsquo;s episode of Trumponomics, host Stephanie Flanders speaks to&nbsp;Bloomberg Opinion columnist Javier Blas and&nbsp;Ziad Daoud, chief emerging markets economist for Bloomberg Economics. Together they unpack the unsettlingly wide range of outcomes from the war,&nbsp;and how Russia will gain economically the longer the conflict continues.
Read more:&nbsp; <a href="https://www.bloomberg.com/opinion/articles/2026-03-04/iran-war-the-most-precious-commodity-is-water-not-oil">https://www.bloomberg.com/opinion/articles/2026-03-04/iran-war-the-most-precious-commodity-is-water-not-oil</a>

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Who will win the trade war, and how? If the job market is so strong, why does your paycheck seem so meager? What will drive the economy of the future? Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders, will take listeners on location each week to answer questions like these and bring the global economy to life.

Trumponomics

Countdown to a Global Energy Shock

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f1a18eab-2f14-4fe1-be27-b403015ed496/transcript

In the US-China trade conflict, rare earth metals are Beijing's ultimate trump card. Last year, China ramped up restrictions on these key industrial elements, spooking industry, and forcing the US to
climb down. Since that wake-up call, the US has worked hard to reduce its dependence on China. It has spent huge sums backing mining companies, penned eye-catching deals and moved to collaborate with allies. But after a little more than a year, how much progress has it made in breaking China’s hold on the rare earths supply chain? 

Featuring: Abigail Hunter of the SAFE Center for Critical Minerals Strategy; Gracelin Baskaran of the Critical Minerals Security Program at the Center for Strategic and International Studies; Cory Combs of Trivium China; and FT commodities correspondent Camilla Hodgson.

Subscribe to the show on Apple, Spotify, Pocket Casts or wherever you listen.

In the US-China trade conflict, rare earth metals are Beijing's&nbsp;ultimate trump card. Last year, China ramped up restrictions on these&nbsp;key industrial elements, spooking industry, and forcing the US to climb down. Since that wake-up call, the US has worked hard to reduce&nbsp;its dependence on China. It has spent huge sums backing mining&nbsp;companies, penned eye-catching deals and moved to collaborate with&nbsp;allies. But after a little more than a year, how much progress has it&nbsp;made in breaking China&rsquo;s hold on the rare earths supply chain?&nbsp;
Featuring: Abigail Hunter of the SAFE Center for Critical Minerals Strategy; Gracelin Baskaran of the Critical Minerals Security Program at the Center for Strategic and International Studies; Cory Combs of Trivium China; and FT commodities correspondent Camilla Hodgson.
Subscribe to the show on Apple, Spotify, Pocket Casts or wherever you listen.

"The Economics Show": Breaking China’s rare earths chokehold

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/aeff7b0f-76d8-4b83-919f-b4b100b3864c/transcript

With tensions rising between Canada and the US over the latest broadsides in President Donald Trump's trade war, the White House is threatening even more levies following Prime Minister Mark Carney's announced dollar-for-dollar retaliation. The rupture between Ottawa and Washington is becoming harder to dismiss as temporary, with the war of words increasingly implicating the broader relationship between the once-close allies.

But as more countries seek to put distance between themselves and the US, will they really move closer to China? In a conversation recorded Aug. 20, before the latest US-Canada skirmish, Stephanie Flanders is joined by Bloomberg’s Dan Ten Kate and Chris Kennedy to explore how the so-called middle powers are trying to diversify their economic and security relationships — and why Beijing’s export dominance, strategic ambitions and trust deficit mean there may be no easy alternative to an economically belligerent America.

With tensions rising between Canada and the US over the latest broadsides in President Donald Trump's trade war, the White House is threatening even more levies following Prime Minister Mark Carney's announced dollar-for-dollar retaliation. The rupture between Ottawa and Washington is becoming harder to dismiss as temporary, with the war of words increasingly implicating the broader relationship between the once-close allies. But as more countries seek to put distance between themselves and the US, will they really move closer to China? In a conversation recorded Aug. 20, before the latest US-Canada skirmish, Stephanie Flanders is joined by Bloomberg&rsquo;s Dan Ten Kate and Chris Kennedy to explore how the so-called middle powers are trying to diversify their economic and security relationships &mdash; and why Beijing&rsquo;s export dominance, strategic ambitions and trust deficit mean there may be no easy alternative to an economically belligerent America.

As Canada Turns From the US, Is China the Alternative?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7b24106e-b747-46ef-8d96-b4b20159ae34/transcript

Can inflation in Japan be a sign of a healthier economy? On this week's episode of Trumponomics, Stephanie Flanders is joined by Taro Kimura, an economist with Bloomberg Economics, and Bloomberg News Senior Editor Chris Anstey to explore the potential cost and benefits of a weakening yen. Together, they examine Japan’s shift away from decades of deflation, why US Treasury Secretary Scott Bessent intervened to support the yen and how instability in Japan could spill over into US Treasury markets and raise American borrowing costs.

Can inflation in Japan be a sign of a healthier economy? On this week's episode of Trumponomics, Stephanie Flanders is joined by Taro Kimura, an economist with Bloomberg Economics, and Bloomberg News Senior Editor Chris Anstey to explore the potential cost and benefits of a weakening yen. Together, they examine Japan&rsquo;s shift away from decades of deflation, why US Treasury Secretary Scott Bessent intervened to support the yen and how instability in Japan could spill over into US Treasury markets and raise American borrowing costs.

Why Inflation Could Be Good News for Japan

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0ad642b8-2a20-4661-b683-b4ab01697592/transcript

Countdown to a Global Energy Shock

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