This is Money Podcast
Trump tariff shock rocks the markets: What happens next?
Apr 4, 2025
Recent tariffs announced by Donald Trump have caused a global market slump and raised fears of a recession. The UK faces only a modest impact, but the effects on pensions, investments, and energy costs could be significant. Meanwhile, savings apps are racing to boost interest rates ahead of the tax year deadline, but these short-lived bonuses come with a catch. The podcast also offers invaluable last-minute tips for maximizing ISA and pension allowances, helping listeners navigate turbulent financial waters.
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Quick takeaways
- Trump's tariff announcement has triggered global market unrest, raising fears of a recession and impacting investor confidence significantly.
- The UK's unique trade relationship with the US poses risks, as rising tariffs in key sectors could lead to economic downturns and potential tax increases.
Deep dives
Impact of Tariffs on Global Markets
Donald Trump's recent announcement of extensive tariffs on over 100 countries has caused significant concern in global markets, with fears of a recession mounting. The tariffs announced, often perceived as ill-conceived, established baseline rates varying by country, with the UK facing a 10% tariff. This shift signals a move towards a more protectionist economic model, fundamentally altering global trade dynamics. Such policies threaten to stunt globalization, which had previously fostered easy trade relations among nations.
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