This is Money Podcast Trump tariff shock rocks the markets: What happens next?
11 snips
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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Tariff Shockwave
- Global markets slumped after Trump's tariff announcement, sparking recession fears.
- The UK's 10% tariff wipes out the Chancellor's headroom, potentially leading to tax rises.
The Big Board
- Trump's tariff announcement included a large board displaying the numbers, which was helpful for journalists.
- The tariffs are based on a complex formula involving trade deficits, currency manipulation, and trade barriers.
Protectionism Era
- The tariffs signal a potential shift towards protectionism, impacting global trade dynamics.
- The UK, while lightly hit, faces potential economic consequences, including lower GDP growth.