There is an angry response from world leaders as the US announces tariffs on all imports.
US President Donald Trump calls it “liberation day,” but world leaders say his new tariffs are likely to trigger a world trade war.
The White House has announced that tariff charges vary by country, but almost all countries will ultimately be affected.
The move has led to anger in China, disappointment in Europe and chaos around the world.
Trump says tariffs are in return. This is a way to free the US from dependence on foreign goods and boost manufacturing at home.
But for now, they are also fostering fears about recession and straining global markets.
So how do you manage the global economy?
And will trading partners drift further away from America and build alliances elsewhere?
Presenter: James Bays
guest:
Stephen Okun – Founder and CEO of APAC Advisor
Philippe Legrain – Political Economist and Senior Visiting Fellow at the European Institute of Economics, London
William Lee – Chief Economist at Milken Institute