The Tariff Announcement That Shocked Financial Markets | Odd Lots

Over the weekend, President Trump announced that he was following through with his plan for aggressive tariffs. Imports from Canada and Mexico will now be hit with a 25% tariff, while China will get a 10% tariff. Although aggressive action was promised during the campaign, the news still rattled global financial markets, sending futures tumbling and the dollar spiking. Then, on Monday, Mexican President Claudia Sheinbaum announced that after a discussion with Trump, the tariffs aimed at her country would be delayed by a month. Meanwhile, more talks with Canada and China are expected. So what exactly are the economics of such tariffs? Are they inflationary? Who pays for them? And what are the implications of these ongoing threats? On this episode, we speak with Paul Donovan, chief economist at UBS Global Wealth Management, who answers all of our questions on the still developing news and how things might play out. Read More: How Trump’s Tariffs Aim a Wrecking Ball at the Economy of the Americas (https://bloom.bg/3CDQ63r) Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots (https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast) See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets. Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Check out more Odd Lots: https://youtube.com/playlist?list=PLe4PRejZgr0MuA6M0zkZyy-99-qc87wKV Get the Odd Lots newsletter via https://www.bloomberg.com/account/newsletters/oddlots And for all things Odd Lots, visit https://www.bloomberg.com/oddlots Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake #Bloomberg #Podcast #OddLots Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter: https://twitter.com/podcasts For coverage on news, markets and more: http://www.bloomberg.com/video

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