Global News Podcast Trump tariffs trigger steepest US stocks drop since 2020
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Apr 4, 2025 U.S. tariffs have sent shockwaves through the stock market, hitting tech giants like Apple hard. President Trump insists the economy will flourish despite the turmoil. Meanwhile, the video game world buzzes with the upcoming release of the Nintendo Switch 2, though its hefty price tag raises eyebrows. The podcast also highlights how these tariffs affect global trade dynamics and the struggles faced by countries like Bangladesh and Lesotho. On a somber note, it touches on tragedies in Gaza and Myanmar, reminding us of the human impact behind the headlines.
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Market Crash
- Over $1.5 trillion was wiped off Wall Street shares, with tech firms like Apple losing over $250 billion.
- The dollar and oil prices also fell due to investor fears about tariffs impacting growth and inflation.
Lesotho's Plea
- Lesotho will send a delegation to the US to discuss the 50% tariffs on its clothing exports, a major source of employment.
- Botswana also faces a 38% tariff, prompting concerns about job losses in countries reliant on AGOA.
Bangladesh's Tariff Woes
- Bangladesh faces a 37% tariff on US imports, adding to existing economic challenges and impacting its graduation from LDC status.
- This tariff creates tension and concern among businesses and policymakers, especially given Bangladesh's reliance on US garment exports.