Donald Trump’s sweeping tariff announcement is being described as a shockingly radical shift in policy.  

The US President announced 10% tariffs on almost all goods entering the US, including from New Zealand. 

Many countries face much higher tariffs, including China with a combined 54% levy. 

Former US Department of Treasury Economist Brad Setser told Mike Hosking it’s a fundamental break in the US’ post-WWII international economic policy approach and is an enormous political and economic risk. 

He believes the magnitude of the tariff increase does threaten to push the US into a recession. 

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