Earlier this month President Trump announced radical new taxes on foreign imports amounting to what he described as ‘Liberation Day' for the United States. It was a promise he made to American voters during last year’s election campaign but the scale of the tariffs caught many countries by surprise.

Global financial markets plunged as investors braced themselves for a shock to the flow of international trade. Faced with prolonged market turmoil, within days the US president paused most of his plans.

A to-and-fro between Washington and Beijing has left many world leaders confused who to side with, as many look towards the White House wondering if there is a detailed plan at the heart of these unprecedented few weeks.

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Presenter: Tanya Beckett

(Photo: US President Donald Trump holds a chart and delivers remarks on reciprocal tariffs at an event entitled Make America Wealthy Again, at the White House, Washington DC, 2 April, 2025. Credit: Brendan Smialowski/Getty Images)