In this episode of Relative Return Unplugged, hosts Maja Garaca Djurdjevic and Keith Ford are joined by AMP's chief economist, Shane Oliver, to discuss the ever-evolving state of global markets as the US pursues its protectionist trade war. The fast-moving rollout of tariffs against major trade partners has had a profound impact on stock markets around the world, with tensions and reciprocal tariffs threatening to inflame a trade war that could have prolonged effects.

Listen as they discuss:

• How global markets are responding to the increasing volatility of a Trump presidency.
• Whether the President's tactics will change if the downturns become more pronounced.
• Why Australia not hitting back with tariffs of its own is the right path.