Wall Street reels after Trump tariff shock wipes trillions off markets
Wall Street closes one of its wildest weeks in years, reeling from the impact of Donald Trump’s sweeping new tariffs on global imports. The S&P 500, Nasdaq Composite, and Dow all plunged.We assess the fallout with our US Business Correspondent Michelle Fleury in New York, and speak to Gene Seroka, Executive Director of the Port of Los Angeles—the largest container port in North America—about what it means for trade and supply chains.With trillions wiped off share values, what does it mean for those with pensions heavily tied to Wall Street? Maria Johannssen of AON explains how retirement pots could be hit, and whether there’s cause for alarm.Plus, TikTok survives another day in the US—but for how long? We explore the latest on the app’s uncertain future and who might be lining up to buy it.
And as tariffs threaten to raise car prices, we look at why America is phasing out the last of its truly affordable new vehicles. Marketplace’s Henry Epp reports on the death of the compact car.
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26:26
China retaliates with extra tariffs on US goods
Global stock markets have continued to plunge in response to President Trump's tariff announcement. This comes as China has announced retaliation tax of 34% against the United States for the tariffs imposed by President Donald Trump. However, India is taking a different approach to China, although it was hoping to reach a deal with the US before Trump imposed 27% tariffs. Rob Young will hear from a former India Commerce Secretary. And what does it mean for Lesotho, the 50% tariffs imposed on the small Southern African country? The CEO of the Private Sector Foundation of Lesotho explains.
And the final countdown to another TikTok ban is on, and 170 million US users' scrolling and posting is hanging in the balance again.
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26:26
Donald Trump defends tariffs on US imports
Donald Trump defends tariffs on US imports. This is despite Wall Street suffering its worst day since the early months of the Covid pandemic. The Dow Jones fell by nearly four percent.
Pharmaceuticals have been excluded from the 20% tariffs on all EU exporters. Gareth Sheridan, the founder of Nutriband inc. from Dublin tells us more
And why have Japanese convenience stores caught the attention of North America. The BBC’s Ruth Alexander reports
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26:28
Global markets slide as Trump tariffs hit stocks
World leaders, businesses, and consumers have started to grapple with what tariffs announced by the US president Donald Trump really mean. Global markets are already reacting, with volatility in stocks, currency shifts, and businesses weighing the costs of these tariffs.
China has angrily condemned Donald Trump's announcement of swingeing tariff increases on imports from around the world.
These tariffs hit hardest to some of the world's poorest countries, including Cambodia, Bangladesh and Laos. Sam Fenwick hears about the global impact of these tariffs and how world leaders and businesses are reacting to them.
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26:29
Trump unveils broad new tariffs
US President Donald Trump has announced a sweeping set of new tariffs targeting countries that export products to the United States. The announcement includes a significant 34 percent tariff on imports from China and a 20 percent tariff on goods from the European Union. The White House stated that the tariffs are designed to be ''reciprocal'', aiming to address what it views as unfair trade practices. Rahul Tandon gets reactions on the potential impact of these tariffs.
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