Gross domestic product shrunk 0.3% from January to March — the first growthless quarter since the pandemic recovery in early 2022. The cause? All the buying up that businesses and consumers did to beat tariff-induced price increases. We'll parse the data. Plus, Stellantis suspends 2025 guidance, Amazon backs away from transparency about the cost of tariffs, and the United Kingdom clamps down on a tax loophole for the rich.

Amazon backtracked yesterday after reporting revealed the company was planning to display how much tariffs were raising prices on individual items and the White House angrily pushed back. Other companies, including Temu and Volkswagen, are being upfront with customers about tariffs’ impact on product prices. We'll hear more. Also on the show: factory activity falls in China, and a view of the economy before Donald Trump took office and 100 days into his second term.

From the BBC World Service: New data shows China's manufacturing activity took a sharp dip in April — a sign that the ongoing trade war with the U.S. is starting to bite. Then, President Donald Trump signed an executive order to slash import duties on car parts in a short-term move to help U/S/ automakers. Plus, the U.K. is scrapping a centuries-old tax perk that lets wealthy foreigners shield their global assets.

For many in Canada, trade policy and the rhetoric of a leader south of the Canadian border were front of mind when heading to the polls. Kimberly Adams went to polling places in the province of Ontario yesterday to hear more. Today, we'll learn what Canadian voters had to say. Also: DoorDash wants to buy U.K.-based Deliveroo, and Amazon launches an effort to compete with SpaceX’s Starlink satellite system.

For President Donald Trump's 100th day back at the White House, we’re checking in on the cost-cutting efforts of Elon Musk's Department of Government Efficiency, or DOGE. It claims $150 billion in savings from layoffs, canceled government contracts and shuttered agencies. Analysts dispute that number, and it's far short of what Musk had promised. And later: The president is set to give automakers a break on some tariffs

From the BBC World Service: After claiming victory in Canada's election, Prime Minister Mark Carney has strong words for the Trump administration. We'll hear what he has to say and unpack the role that antagonism from the U.S. president played in the election. Plus, what does Carney's win mean for Canada's economic relationship with the States? Meanwhile, energy giant BP faces new pressure from investors to pivot back to fossil fuels.

Beyoncé’s Cowboy Carter tour kicks off tonight in Los Angeles. So far, tickets for the tour are cheaper and easier to get ahold of than during Beyoncé's 2023 Renaissance tour. That's probably less a reflection on Queen Bey and more that feelings of economic uncertainty are replacing post-pandemic revenge-spending habits. We'll hear more. Plus: a drop in cargo ships from China and dealing with debt in your golden years.

Tomorrow marks 100 days of President Donald Trump's second term in office. We're taking a look this week at what this new administration has meant for the U.S. and global economies. We start today by chatting with Zanny Minton Beddoes, editor-in-chief of The Economist Magazine. And later: Tariffs have been used before by countries around the world to attempt to revitalize domestic industrialization. What can we learn from revisiting that history?