Global markets plunged again on Monday after Donald Trump showed no signs of pulling back from his sweeping tariff plan. All the major stock exchanges across Europe, the US and Asia were affected by the drop in prices, from tech to retail and manufacturing.
European Commission president Ursula von der Leyen warned US tariffs were having a “massive impact” on the global economy, while Goldman Sachs raised the odds of a US recession to 45 per cent.
And while stock prices don’t mean much to many people, behind the figures, there’s real damage being caused to the economy – in Ireland and around the globe.
But when will we start to feel the impact of this financial chaos?
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How is Europe responding to Trump’s 20 per cent tariff on EU goods and how has China reacted to the rising tariff threats coming from the White House?
And is there any indication the plunging stock markets will prompt the Trump administration to rethink its approach to trade?
Today, on In The News, how worried should we be about the toll of Trump’s tariffs?
Irish Times economics writer Cliff Taylor and China correspondent Denis Staunton discuss the global implications of Trump’s tariff agenda.
Presented by Sorcha Pollak, produced by Declan Conlon.
