Trump tariff shock rocks the markets: What happens next?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 4 April 2025

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets around the world have slumped, the dollar weakened and fears mount of a global recession, after Donald Trump announced huge 'reciprocal' tariffs on over 100 countries.

The UK appears to have got off lightly, attracting just the baseline 10 per cent tariff - but even that will wipe out the Chancellor's beloved headroom and leaves the door wide open for tax rises in the Autumn.

How else could it hit us here? From pensions, investments, mortgages and energy bills, Georgie Frost, Simon Lambert and Lee Boyce try to unpick a crazy few days in the geopolitical arena.

As Isa providers continue to battle it out to win new customers ahead of the end of the tax year, we've seen some chunky deals.

A quartet of savings apps have all boosted rates repeatedly in the last week, with the top cash Isa rate of 5.9 per cent up from 5.28 per cent just a week ago.

The catch? These bonus boosts only last three months, so how good is the rate you're really getting over the whole year? And are these deals worth it?

And on the topic of Isas, Simon has his very, very last minute tips on filling your allowance before it's too late.

Transcript

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0:00.0	Welcome to This Is Money podcast sponsored by Charles Stanley Direct. I'm Georgie Frost and joining me and Simon Lambert today is Lee Boyce. And coming up, tariffs. Yep, mainly tariffs.
0:15.0	With some nicer news thrown in and some top tips from Simon about sorting out your life, the usual basically.
0:21.5	Don't forget you to stay up to date.
0:22.4	With all the latest breaking money news, just go to this ismoney.co.com.
0:25.2	UK or download the app.
0:27.7	Take control of your finances with Charles Stanley Direct.
0:31.5	Invest, save, coach or plan.
0:35.5	Using technology where it's helpful and people where it matters.
0:39.3	Our website and app make trading cost effective and flexible.
0:43.3	But we're more than just an online investment service.
0:46.3	We're here for you regardless of your financial needs or if your life takes an unexpected turn.
0:52.3	Your finances, your way. Take control today with Charles
0:57.2	Stanley Direct. Sign up now. Investment involves risk. But first, markets around the world have slumped,
1:04.1	the dollar weakened, fierce amount of a global recession after Donald Trump announced huge,
1:09.1	quote, reciprocal tariffs on over 100 countries.
1:12.9	Using calculations that would make a secondary school maths teacher wince,
1:16.9	the US president managed to do what none of his predecessors have managed to do,
1:21.3	to unite large parts of the world, mainly in bafflement at the idiocy of his plans. The UK appears to have got
1:29.8	off rather lightly, attracting just the baseline 10% tariff, but even that will wipe out
1:35.2	the Chancellor's beloved headroom and leaves the door wide open for tax rises in the autumn.
1:41.2	So how will it affect us here from pensions, investments, mortgages and energy bills?
1:46.1	Simon and Lee will break it down. But first, welcome Simon, welcome Lee. Simon. What just happened?
	...

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