In this episode of Relative Return Unplugged, hosts Maja Garaca Djurdjevic and Keith Ford, along with special guest Steve Kuper, discuss a whirlwind start to US President Donald Trump's second term that all but kicked off a trade war. We explore the lay of the land following a flurry of executive orders, abrupt policy changes, and escalating tensions that seem to have no clear end in sight. The tariffs on Canada and Mexico are paused for now, but China did not experience the same sudden reversal.

Trump's leadership style has so far led to volatility in global markets as investors grapple with the significant uncertainty and a potential market correction on the horizon.

Tune in to hear:

• The case for tariffs as bargaining chips and if this is ultimately a chaotic approach to diplomacy.
• Whether volatility is here to stay as a feature of Trump's presidency.
• What kind of flow-on impact tariffs could have on the Australian economy.