Are we all going to get poorer? Donald Trump is pushing ahead with his tariffs despite financial experts' fears.
Stock markets tumble as tariffs bite
Down down down: Traders on the New York Stock Exchange reacted with shock and horror as foreign countries debated counter-tariffs and share prices plummeted. Glossary
Stock exchanges - Where investors buy and sell shares in a company, hoping to make money as the company grows. There are major stock exchanges in London, New York, Hong Kong, and Tokyo.
Donald Trump - An American politician, media personality, and businessman serving as the 47th president of the United States since January 2025. A member of the Republican Party, he previously served as the 45th president from 2017 to 2021.
Tariffs - A form of tax on imports.
Imports - Goods or services bought in one country that were produced in another.
Share prices - Also called a stock price — the amount it would cost to buy one share in a company. A share is a very tiny part of a company, entitling the holder to a small amount of the company's profits.
Tax - Money workers pay to the government to pay for services like roads and hospitals.
Recession - A period of economic decline. A recession occurs when a country’s Gross Domestic Product falls for six months in a row.
Economy - The way that money flows through a country, which affects wages and the cost of living.
Manufacturing - When you make things on a large scale, such as in factories.