Markets might not have hit the bottom yet
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 9 April 2025
⏱️ 11 minutes
🧾️ Download transcript
Summary
Donald Trump is pushing ahead with another 50 per cent tariff on Chinese goods, and there are questions about what will happen to nearly $2tn worth of pledges to invest in the US because of the levies. Plus, the FT’s Katie Martin explains why a selloff in US Treasuries could mean a world of hurt for markets.
Mentioned in this podcast:
Donald Trump to proceed with extra 50% tariff on China as trade war escalates
US tariffs threaten almost $2tn of investment pledges by global companies
Markets could get a lot worse — and quickly
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | We're Equinor, an energy company searching for better. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, and we expect this to grow to |
| 0:23.3 | over 7 million UK households. We're an energy company searching for better. Equinor.com. |
| 0:29.1 | UK. |
| 0:33.7 | Good morning from the Financial Times. Today is Wednesday, April 9th, and this is your FT News |
| 0:38.8 | briefing. Trade tensions have reached new heights between America and China, and nearly two |
| 0:45.3 | trillion dollars worth of pledged U.S. investments are now at risk. Plus, the FTs, Katie Martin |
| 0:50.9 | explains why markets might be in for even more pain. |
| 0:57.0 | Everyone's been betting on American exceptionalism. |
| 1:00.5 | Now it turns out that America is exceptionally bad. |
| 1:20.7 | I'm Mark Filipino, and here's the news you need to start your day. The Trump administration on Tuesday said it was pushing ahead with another 50% tariff on China. It marks a new U.S. offensive in a brewing global trade war. |
| 1:25.6 | So this brings Trump's additional tariff rate on Chinese imports to 104%. |
| 1:33.3 | Amy Williams covers trade for the FT, and she says that while there are exemptions for |
| 1:39.1 | things like chips, pharmaceuticals, and some metals, consumers will get hit hard if companies decide to pass on the |
| 1:45.9 | costs of these taxes. So assuming that the thing that you're trying to buy is a piece of candy, |
| 1:52.8 | a $1 piece of candy from China would now cost $2.4. It would have a 104% markup. |
| 2:04.4 | Yeah, 104%. |
| 2:06.4 | Let that sink in for a second. |
| 2:08.6 | And then extrapolate that out to the goods that are going to be a lot more than a piece of candy. |
| 2:13.5 | The world's biggest exporter, meanwhile, isn't exactly rushing to get on Trump's good side. |
... |
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