The Australian share market fell around 1% on Thursday after the US President Donald Trump made his global tariff announcement leaving Australia relatively unscathed when compared to other trading partners, with a blanket 10% tariff on goods going to the US. The falls on the S&P/ASX 200 could have been worse, were it not for rising bets of rate cuts, with money markets now pricing in at least three more cuts in 2025 to insulate the economy from a potential global downturn. ABC Business Editor Michael Janda joins Alicia Barry to look at the trading day, and the broader implications for the US and the global economy, plus how Australia could fair if the tariffs stick.
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