Dan Rivers

2 weeks ago | itv.com | Dan Rivers

Donald Trump has had his Liz Truss moment. He’s found out there is one political enemy he can’t beat: the bond market. The cost of US borrowing had risen steeply during his tariff experiment. It was clear with a 36 trillion dollar debt, even for the country with the world’s reserve currency, this was a problem. The 30 bond yield - how much investors are paid to hold US government debt for 30 years - had got higher than Greece was having to pay during its financial crisis.

2 weeks ago | itv.com | Dan Rivers

All eyes are now on Wall Street. Futures for major indices like the Dow Jones point to another brutal day of losses, following steep declines in Asia. Over the weekend, Donald Trump gave no hint that he is willing to back down from his tariffs policy which has roiled markets. He was asked on Air Force One: "Is there pain in the market at some point you're unwilling to tolerate?"He replied: “I think your question is so stupid.

2 weeks ago | itv.com | Dan Rivers

Not since the entire world economy was disrupted by a global pandemic have shares fallen this precipitously. Friday brought another day of brutal declines on markets around the world. The Dow Jones is deep in the red for another day. Since Trump took office, the key index of the US economy has fallen from around 44,500 to around 39,000 on Friday. Donald Trump often trumpeted stock market highs during his first term. He watches these indices closely.

3 weeks ago | itv.com | Dan Rivers

It was classic Trump. Running slightly late, keeping everyone watching like some weird economic game show, he finally revealed ‘the scores on the doors’. Or in this case, the tariffs on the placard. It certainly was an innovative way to announce what amounts to the wholesale unravelling of global trade. Some countries will have watched this bizarre outdoor press conference with horror, as it was revealed they will face huge penalties for sending their goods to America.

3 weeks ago | itv.com | Dan Rivers

Liberation Day is coming, whether we like it not. And in the UK, we may find Donald Trump’s announcement in the Rose Garden of the White House tomorrow a bitter pill to swallow. We already know cars and auto-parts coming into the US will be subject to a 25% surcharge starting tomorrow. The same has already been applied on aluminium and steel last month. Soon, we may get news of a whole new slew of tariffs, which could have a dramatic impact on the UK economy and the world.