The Sanctions Age

The Sanctions Age

How to Fight an Economic War

Edward Fishman with Esfandyar Batmanghelidj - Season 3, Episode 8

May 19, 2026
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It has been an extraordinary year in American economic statecraft and economic warfare. When today’s guest last appeared on the show, it was April 2025. We spoke just days after Trump’s so-called “Liberation Day” tariffs had thrown global markets into chaos. At the time, much of the conversation about economic warfare was speculation about what Trump might do. A year later, we know what Trump’s economic warfare looks like in practice—and it’s not a pretty picture.

This episode features returning guest Edward Fishman. Since his last appearance on the podcast, Eddie has taken up a new position at the Council on Foreign Relations, where he is Senior Fellow and Director of the new Maurice R. Greenberg Center for Geoeconomics. The conversation will unpack Eddie’s new Foreign Affairs essay titled “How to Fight an Economic War: A Field Manual for a Ruptured World.”


Season 3 of The Sanctions Age is produced by media.winter in Berlin.


The rest of this email is for paid subscribers and includes the host Esfandyar’s reflections on his conversation with Eddie and a full episode transcript. If you would like access to this additional content and want to support the show, please subscribe by clicking the button below.

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