Stock market turmoil: how Trump’s tariffs could impact Irish pensions and global trade

Trump’s tariff threats shook markets worldwide — but the actual cost for Ireland may be falling pensions and consumer confidence

US president Donald Trump at a ‘Make America Wealthy Again’ trade announcement event in the Rose Garden at the White House on Wednesday, April 2, in Washington, DC. Touting the event as ‘Liberation Day’, he announced additional tariffs targeting goods imported to the US. Picture: Chip Somodevilla/Getty

US president Donald Trump’s ‘Liberation Day’ announcement of reciprocal tariffs on nearly every country in the world sent global markets into a rapid tailspin, shaking what has, over time, become the traditional trading order and raising fears of a worldwide recession.

In traditional Trump style, it was turned on its head again on Wednesday evening, when he announced he would postpone all reciprocal tariffs for 90 days sending markets back up again.