UBS On-Air: Paul Donovan Daily Audio 'Tea parties become more expensive'
UBS On-Air: Market Moves · Podcast owner
April 9, 20256m 2s
Audio is streamed directly from the publisher (ubs.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
US President Trump implemented an extraordinary tax increase on US consumers overnight. If the 104% tax increase on goods from China is not reversed, it is likely to push the US into recession more rapidly. China’s economy is negatively impacted—but the larger each round of tariffs, the less their marginal impact on foreign growth. USD 55 million of tea imported from China is subject to the 104% tax (in 1773 the UK cut tea taxes).