Trump Tariffs Kick In, Treasuries ‘Fire Sale', Market Turmoil Spreads

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) US President Donald Trump spent the final hours before his tariffs were set for full implementation lining up negotiations with US allies, but his insistence on pushing forward with 104% tariffs on many Chinese goods dimmed optimism that a brutal trade war would be avoided.(2) Chinese Premier Li Qiang said his country has ample policy tools to “fully offset” any negative external shocks, and reiterated his optimism about the growth of the world’s second-largest economy in 2025, despite the latest tariff threat from US President Donald Trump.(3) For the better part of a day, it seemed as if the panic that Donald Trump’s trade war unleashed had largely subsided as US equities built on strong rallies in Asia and Europe.(4) President Donald Trump’s steeper-than-expected tariffs have traumatized financial markets and triggered recession fears all over the world.(5) President Donald Trump’s tariffs are rattling US consumers, who are stocking up on everything from cars to olive oil and iPhones. The behavior offers some good news for businesses that are rushing to figure out how to respond to the upheaval caused by Trump’s global trade war.(6) “We are going to be announcing very shortly a major tariff on pharmaceuticals,” President Donald Trump says at a National Republican Congressional Committee Dinner.See omnystudio.com/listener for privacy information.

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