Trump tariff shock rocks the markets: What happens next? This is Money podcast

Published on: April 4, 2025

By THIS IS MONEY

Updated: 20:58 BST, 4 April 2025

Markets around the world have slumped, the dollar weakened and fears mount of a global recession, after Donald Trump announced huge ‘reciprocal’ tariffs on over 100 countries.

The UK appears to have got off lightly, attracting just the baseline 10 per cent tariff – but even that will wipe out the Chancellor’s beloved headroom and leaves the door wide open for tax rises in the Autumn.

How else could it hit us here? From pensions, investments, mortgages and energy bills, Georgie Frost, Simon Lambert and Lee Boyce try to unpick a crazy few days in the geopolitical arena.

Your browser does not support iframes.

As Isa providers continue to battle it out to win new customers ahead of the end of the tax year, we’ve seen some chunky deals.

A quartet of savings apps have all boosted rates repeatedly in the last week, with the top cash Isa rate of 5.9 per cent up from 5.28 per cent just a week ago.

The catch? These bonus boosts only last three months, so how good is the rate you’re really getting over the whole year? And are these deals worth it?

And on the topic of Isas, Simon has his very, very last minute tips on filling your allowance before it’s too late.

This is Money podcast

Listen to the This is Money podcast

We publish the podcast every Friday on This is Money and at Apple Podcasts, Spotify, Amazon Music and more. Search for it at your favourite podcast platform.

To download Apple Podcasts go to the App store. On Android devices, go to the Google Play store to download the podcast app of your choice.

You can press play to listen to this week’s full episode on the player above, and wherever you get your podcasts please subscribe and review us if you like the podcast.

You can also listen to the latest episode, find the archive and join in the debate in reader comments on the This is Money podcast page.