Asian shares nosedived on Monday after the meltdown Friday on Wall Street over U.S. President Donald Trump's tariff hikes and the resulting backlash from Beijing.
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00:30reducing the trade deficits in certain countries or if there's a bigger goal in
00:35mind, whether this is a negotiating chip to get some concessions out of certain
00:39countries especially, like China for example. So there's still a question
00:45about what the end goal is here.
00:48Tariffs hurt workers, they hurt jobs, they are inflationary and they ultimately hurt
01:02superannuation and now we're seeing that on the the share market and for those
01:06people who were, you know, anti free trade all those years and they called for
01:11protection on the left and on the right, they're seeing the actual consequences
01:15of someone actually doing it as Donald Trump said he would.