What impact is Trump’s first day in office having on markets?
Marketplace Morning Report
Marketplace
4.5 • 927 Ratings
🗓️ 21 January 2025
⏱️ 6 minutes
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Summary
From the BBC World Service: As President Donald Trump begins his second term in office, he’s been talking tariffs — but for not for China, as many expected. Overall market impacts have been relatively muted, though cryptocurrencies have rallied. Meanwhile, there’s been mixed responses to Trump’s return to power among Davos attendees. And later, the cost of living has overtaken the issue of climate change as the No. 1 issue among young Australians.
Transcript
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| 0:00.0 | What impact is President Trump's first day in office having on the markets? |
| 0:06.3 | Live from the UK, this is the Marketplace Morning Report from the BBC World Service. |
| 0:10.9 | I'm Sarah Rogers in Fuliana Burn. Good morning. |
| 0:14.3 | So as President Trump began his second term in office, he's been talking tariffs, but not for China, as many expected. So what do the |
| 0:22.6 | initial announcements mean for global markets? The BBC's Katie Silver has been watching. Hi, Katie. |
| 0:28.0 | Hi there. During the campaign, we heard a lot about trade tariffs being imposed on China, |
| 0:33.6 | but that's not happened yet. So as part of this is inauguration address, we didn't |
| 0:39.2 | see these tariffs that he'd promised to impose on China day one in the office. He said that they |
| 0:43.9 | were going to put tariffs on the order of about 60% on goods. Instead, we saw President Trump |
| 0:49.7 | directing federal agencies to investigate and remedy any persistent U.S. trade deficits and what |
| 0:55.8 | they see is unfair trade practices by other countries. And that would include reviewing the |
| 1:01.0 | phase one trade deal that was signed with Beijing back in 2020 when he was formerly the president. |
| 1:07.3 | We have also heard that he may impose tariffs, or he said that he's going to impose tariffs on |
| 1:11.4 | imports from Canada and Mexico on the 1st of February. But no doubt, analysts in Beijing |
| 1:16.0 | happy, breathing a sigh of relief that China wasn't also mentioned in that list of countries, |
| 1:21.2 | which we're going to see is the first potential rollout of these tariffs. So what has been |
| 1:25.4 | the financial impact on the markets then? |
| 1:32.4 | It's been relatively muted. So the Hengsing has been ticking up. It's been the top performer in Asia, |
| 1:37.0 | but still only up about three quarters of percent. China's markets mixed, but more or less flat. |
| 1:41.8 | And we're hearing about this so-called golden era for crypto now. |
| 1:47.2 | Yeah. So we've seen, for example, Bitcoin notching another record high. It hit over $109,000, now more around the $101,000 mark. But yes, President Trump has been seen as being |
| 1:55.0 | very crypto-friendly. He's even, for example, suggested that he wants the US government to hold |
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