The US economy is in chaos as Donald Trump continues to push ahead with his tariff plan. 

The US President's confirmed Australia won't be exempt from new 25% tariffs on steel and aluminium imports, and has announced 50% tariffs on Canadian steel and aluminium imports. 

This is in response to Ontario's now-suspended 25% surcharge on electricity exports. 

US Correspondent Richard Arnold told Mike Hosking that investment giant Goldman Sachs says there is now a 1-in-5 chance of a recession in the US. 

Arnold says that while the average American is yet to feel this in full, they certainly will. 

LISTEN ABOVE 

The US economy is in chaos as Donald Trump continues to push ahead with his tariff plan.&nbsp;
The US President's confirmed Australia won't be exempt from new 25% tariffs on steel and aluminium imports, and has announced 50% tariffs on Canadian steel and aluminium imports.&nbsp;
This is in response to Ontario's now-suspended 25% surcharge on electricity exports.&nbsp;
US Correspondent Richard Arnold told Mike Hosking that investment giant Goldman Sachs says there is now a 1-in-5 chance of a recession in the US.&nbsp;
Arnold says that while the average American is yet to feel this in full, they certainly will.&nbsp;
LISTEN ABOVE&nbsp;

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Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Richard Arnold: US Correspondent on the economic chaos as a result of Trump's continuing trade war

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/19547f9a-66f0-40ca-9864-b29d016ffb6d/transcript