There has been an outpouring of angry reactions from world leaders following the United States’ announcement of tariffs on all imports.
President Donald Trump labeled this decision as "Liberation Day," but global leaders warn that this new wave of tariffs could ignite a worldwide trade war. The White House clarified that the tariff rates will differ based on the country, but virtually every nation will eventually feel the impact.
This move has sparked outrage in China, disappointment across Europe, and widespread uncertainty around the world. President Trump argues that the tariffs are a form of retribution, aimed at reducing America’s dependence on foreign goods and revitalizing domestic manufacturing.
However, for now, the decision is fueling fears of a potential recession and causing unease in global markets.
The pressing questions now are: How will the global economy cope with these developments? And will America’s trading partners distance themselves further, forming new alliances elsewhere?
Presenter: James Bays
Guests:
- Steven Okun – Founder and CEO of APAC Advisors
- Philippe Legrain – Political Economist and Senior Visiting Fellow at the European Institute of the London School of Economics
- William Lee – Chief Economist at the Milken Institute
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