On this episode of Trumponomics, host Stephanie Flanders examines how the US-Israel war with Iran has choked one of the world’s most vital shipping routes and tested the foundations of global trade. With traffic through the Strait of Hormuz severely constrained and hundreds of vessels backed up, the disruption is pushing up energy prices and raising fresh concerns about the reliability of supply chains. Bloomberg Global Trade Editor Brendan Murray and Africa and Middle East Correspondent Peter Martin join to unpack the economic fallout and geopolitical stakes.

On this episode of Trumponomics, host Stephanie Flanders examines how the US-Israel war with Iran has choked one of the world&rsquo;s most vital shipping routes and tested the foundations of global trade. With traffic through the Strait of Hormuz severely constrained and hundreds of vessels backed up, the disruption is pushing up energy prices and raising fresh concerns about the reliability of supply chains. Bloomberg&nbsp;Global Trade Editor Brendan Murray and Africa and Middle East Correspondent Peter Martin join to unpack the economic fallout and geopolitical stakes.

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

The Long-Term Global Economic Damage From the War With Iran

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/82ca19a8-f532-462e-91e9-b4260158f984/transcript

Across developed markets, bond markets are staging a slow-motion car wreck. As Opinion columnist and senior markets editor John Authers puts it, the phenomenon is truly global. Authers and Robin J. Brooks, a senior fellow at the Brookings Institution and former chief economist at the Institute of International Finance, join host Stephanie Flanders to explain why investors have turned sharply against government bonds across the world’s major developed economies — and how the fallout could affect us all.

Read John Authers's column here: 
https://www.bloomberg.com/opinion/newsletters/2026-05-19/the-great-bond-car-wreck-in-slow-motion

And find Robin J. Brooks's substack here: 
https://robinjbrooks.substack.com/p/liz-truss-bond-market-blow-ups

Across developed markets, bond markets are staging a slow-motion car wreck. As Opinion columnist and senior markets editor John Authers puts it, the phenomenon is truly global. Authers and Robin J. Brooks, a senior fellow at the Brookings Institution and former chief economist at the Institute of International Finance, join host Stephanie Flanders to explain why investors have turned sharply against government bonds across the world&rsquo;s major developed economies &mdash; and how the fallout could affect us all. Read John Authers's column here:&nbsp; <a href="https://www.bloomberg.com/opinion/newsletters/2026-05-19/the-great-bond-car-wreck-in-slow-motion">https://www.bloomberg.com/opinion/newsletters/2026-05-19/the-great-bond-car-wreck-in-slow-motion</a> And find Robin J. Brooks's substack here:&nbsp; https://robinjbrooks.substack.com/p/liz-truss-bond-market-blow-ups

The Great Bond Car Wreck — in Slow Motion

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/3bcc275d-80e7-45c2-8401-b450006b6f65/transcript

Sebastian Mallaby of the Council on Foreign Relations and author of The Infinity Machine: Demis Hassabis, DeepMind and the Quest for Superintelligence joins host Stephanie Flanders. He says Chinese AI is closing the gap—and that means Washington can’t afford to ignore safety talks.

Sebastian Mallaby of the Council on Foreign Relations and author of&nbsp;The Infinity Machine: Demis Hassabis, DeepMind and the Quest for Superintelligence&nbsp;joins host Stephanie Flanders. He says Chinese AI is closing the gap&mdash;and that means Washington can&rsquo;t afford to ignore safety talks.

Why the US Must Engage China on AI Safety Before It’s ‘Game Over’ 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/93169c62-0ef4-4cba-84b5-b449014c82ca/transcript

As a high-stakes Trump–Xi summit looms, tensions over the Iran war and defiance of US sanctions threaten to derail what could be one of the year’s most consequential meetings. Stephanie Flanders is joined by Jennifer Welch, chief geoeconomics analyst for Bloomberg Economics and Bloomberg News executive editor Dan Ten Kate to unpack whether the talks will happen—and what’s really at stake for the global economy if they do.

As a high-stakes Trump&ndash;Xi summit looms, tensions over the Iran war and defiance of US sanctions threaten to derail what could be one of the year&rsquo;s most consequential meetings. Stephanie Flanders is joined by Jennifer Welch, chief geoeconomics analyst for Bloomberg Economics and Bloomberg News executive editor Dan Ten Kate to unpack whether the talks will happen&mdash;and what&rsquo;s really at stake for the global economy if they do.

Will the Xi-Trump Summit Be Over Before It Starts?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/897a3f29-2017-41cd-b750-b44201699fa8/transcript

The Long-Term Global Economic Damage From the War With Iran

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