Donald Trump has announced global tariffs on an unprecedented scale, holding up a chart in the White House Rose Garden outlining what each country will pay and while the UK seems to have got off relatively lightly, almost nowhere has escaped America's determination to bolster its home-grown trade and manufacturing.

Even the penguins that are the only inhabitants of a chain of remote Antarctic islands have been slapped with a 10 percent tariff. Prices in the US are likely to go up. The global economy faces a period of chaos amid plunging markets. But is a trade war inevitable? And could it spiral out of control and escalate into something much worse?

For this episode of the Fourcast, Krishnan Guru-Murthy is joined by the American author and commentator Robert Kaplan whose writing examines the nature of US power, and Channel 4 News Economics Correspondent Helia Ebrahimi.

Produced by Calum Fraser, Ka Yee Mak, Silvia Maresca, Rob Thomson