Is this the start of a ‘Trumpcession’? | LBC analysis

Andrew Marr hears from Jon Najarian, an options trader and television market analyst and Maurice Obstfeld, Senior fellow at the Peterson Institute for International Economics.

It comes as Donald Trump has doubled planned tariffs on imports of Canadian steel and aluminium from 25% to 50%.

The US president made the announcement on Tuesday afternoon in response to the Canadian state of Ontario raising electricity prices sold south of the border.

The increases are set to take effect on Wednesday.

In a sign of an escalating trade war, Mr Trump said on his social media site Truth Social: "I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD."

The US stock market promptly fell following the post.

Mr Trump has announced tariffs on Canada, Mexico and China, as well as on all imports of steel and aluminium, in a bid to boost US manufacturing - but the trade barriers have sent shockwaves through the stock market.

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