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Marketplace Morning Report

The year tariffs upended global trade

Marketplace Morning Report

Marketplace

Business, News

4.5927 Ratings

🗓️ 26 December 2025

⏱️ 8 minutes

🧾️ Download transcript

Summary

From the BBC World Service: There's one word that's dominated the headlines this year: tariffs. Countries around the world have been grappling with the U.S. import taxes central to President Donald Trump's trade policy, so how are countries faring? We check in on Mexico, China, and others. Plus, the Trump administration eliminated the tax exemption for parcels under $800 this year. We investigate how the move is playing out four months on.

Transcript

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0:00.0

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0:31.7

Let's take a look at where we are with tariffs.

0:34.8

In the UK, this is the Marketplace Morning Report from the BBC World Service. I'm

0:39.5

Gideon Long. Good morning. There's one word that's dominated the headlines this year, and it begins

0:45.5

with T, tariffs. Countries around the world have been grappling with the US import taxes that

0:51.7

were central to President Trump's trade strategy. It's been a bumpy ride

0:56.0

for many, so how are countries meeting the challenges they're facing? Let's start with Mexico.

1:01.7

Here's the BBC's Will Grant. It's been a complex year for Mexico in terms of its relationship

1:07.6

with the US and the Trump administration. Mexico is the US's biggest trading partner.

1:12.6

And by and large, Mexico's escaped the worst of the tariffs imposed on other nations,

1:18.6

in part by upping the fight on fentanyl as President Trump had demanded.

1:22.6

However, the relationship isn't entirely fixed.

1:26.6

I'm speaking to you from my local covered market.

1:29.5

Here there are real effects of how tariffs have hit Mexico.

1:33.3

Take the tomatoes at this stand.

1:35.7

They're still the subject of a 17% tariff,

1:38.9

what's called an anti-dumping tariff,

...

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