Newscast Trump’s Tariffs: The Reaction
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Apr 3, 2025 
Join Dharshini David, BBC deputy economics editor, and Ben Chu, BBC Verify policy and analysis correspondent, as they delve into the surprising reactions to Trump’s tariffs. They analyze how the American stock market unexpectedly surged and how international markets, particularly in the UK and Asia, faced turmoil. The duo discusses the complexities of tariff calculations, unexpected impacts on major brands like Apple, and the broader implications for U.S. agriculture and global trade relations. Expect insights into the economic uncertainties at play.
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Market Reactions to Tariffs
- US S&P 500 index saw a surprising initial rise, while UK and Asian markets fell after Trump's tariff announcement.
- This market volatility reflects global uncertainty and concern over Trump's trade policies.
Currency and Oil Impacts
- The US dollar weakened, while the British pound strengthened following the tariff announcement.
- Falling oil prices and currency fluctuations suggest global economic slowdown fears.
Tariff Formula's True Aim
- Trump's tariff formula aims to eliminate bilateral trade deficits, not match trade barriers.
- The UK's 10% tariff, despite having a trade surplus with the US, demonstrates this.