Quotes
We have had a Liz Truss moment here in the UK. Could we have a Labour version of that? Possibly. I think it’s quite likely.”
Robson said
Tariff measures clearly represent a significant risk to the global outlook at a time of sluggish growth.”
Kristalina Georgieva, the chief of the International Monetary Fund, also warnedIf Trump doesn’t course-correct, this crisis will affect many different areas in global markets,
said Harald Berlinicke, a partner at Sarnia Asset ManagementTrump’s tariffs could deal a double blow to the UK – stalling global growth while fuelling inflation. That’s a nightmare for any chancellor trying to stabilise debt. If markets lose confidence in the UK’s fiscal path, a gilt sell-off isn’t just possible – it’s probable.”
He added
If you tax our goods, we'll tax yours. If you don't open your market, neither will we."
FOR United States President Donald Trump, reciprocity means
Trump’s tariff blitz risks triggering a global stagflation shock – and for the UK, that’s a recipe for a gilt crisis,
he saidIf you think about the problem of being very indebted, you can be as indebted as you like as long as your nominal growth is higher than your interest rate.”
He saidRisks of recession have clearly gone up. I don’t see why there won’t be a recession at the moment. It’s difficult to see what the solution is unless America walks back on this,
he saidThe way in which we calculate the tariffs is using a sophisticated quantitative model that needs to go through a supercomputer to speed up what the tariff rates are. I do not think that that's what they have done."
Pau Pujolas, professor of economics at McMaster University, previously told Newsweek
The formula published by the Office of the U.S. Trade Representative has two additional terms in the denominator that just so happen to cancel out: (1) the elasticity of import demand with respect to import prices, ε, and (2) the elasticity of import prices with respect to tariffs, φ,
the authors wrotePresident Trump's Tariff Formula Makes No Economic Sense. It's Also Based on an Error."
The new analysis was titled.jpg)
OMG they applied their stupid f***ing formula incorrectly?!?
Polling analyst Nate Silver shared the report on Friday on X, formerly Twitter, and wroteThis is a pretty seismic and significant shift in the way that we trade with every country on earth,
she added
The market has spoken" in rejecting Trump's tariffs
Beijing on Saturday saidThis is the single biggest trade action of our lifetime,
said Kelly Ann Shaw, a trade lawyer at Hogan Lovells and former White House trade adviser during Trump's first term
I'm getting all kinds of reactions from businesses, farmers in Wisconsin that are highly concerned about what's happening. Those are the facts. All I can really do is report the reality to the administration, let them know how these actions are impacting my constituents, and it'll be pretty much up to President Trump and his administration to determine exactly how long they're going to go down this road."
Senator Ron Johnson, a Wisconsin Republican, told Fox Business on Friday
We need a rational, well-thought-out and fair trade policy. Trump's across-the-board tariffs are not the way to do it. We do not need a blanket and arbitrary sales tax on imported goods which will raise prices on products that the American people desperately need. We should be doing everything we can to lower prices, not make them incredibly higher."
Senator Bernie Sanders, a Vermont independent who caucuses with the Democratic Party, in a statement emailed to Newsweek on Friday
These tariffs restore fair and reciprocal trade and level the playing field for American workers and innovators. The President understands that FREE trade ONLY works when it's FAIR!"
House Speaker Mike Johnson, a Louisiana Republican, on X, formerly Twitter, on WednesdayThis shift is being lead by the rollout of new tariffs, which have quickly become the dominant issue in swing voter conversations. A combined 38 percent of negative sentiment is now tied to tariffs, split between general concern (25 percent) and a fear personal financial impact (13 percent). Posts are increasingly focused on how tariffs might raise prices, disrupt local economies, and threaten job security—moving the conversation from political positioning to real-world consequences.
It continuedAfter holding steady for a month at -12, Trump's net sentiment among swing voters has now dropped to -15—a sign that recent developments are beginning to cut through,
the report said