Political Fix Markets or Trump: who’s in charge?
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Apr 11, 2025 
Katie Martin, a renowned markets columnist at the Financial Times, joins a discussion on the recent market chaos triggered by Donald Trump’s tariff announcements. The conversation delves into the ripple effects on U.S. stock prices and government bonds, as well as the complexities facing the UK in trade relations amid a global trade war. Additionally, the panel navigates the evolving political landscape, touching on the Tory party's internal struggles and the influence of rising right-wing parties, all while assessing the shifting focus towards UK and European markets.
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Market Turmoil After Liberation Day
- Donald Trump's "Liberation Day" announcement included unexpectedly high tariffs, impacting even uninhabited islands.
- This caused steep declines in U.S. stocks, reflecting market concerns about corporate profitability and a potential recession.
Bond Market Signals Distrust
- The market turmoil following Trump's tariffs was unusually concerning, raising doubts about U.S. investment security.
- The bond market's negative reaction, signaling distrust in U.S. bonds as a safe haven, was particularly alarming.
UK Economic Outlook Amidst Tariffs
- The UK faces negative economic consequences from the U.S. tariffs, despite some potential short-term benefits like lower oil prices.
- Chancellor Rachel Reeves faces the challenge of navigating these economic difficulties and maintaining the UK's fiscal stability.