Welcome to Business Matters here on the BBC World Service.
It has been quite a day for the global economy.
Donald Trump announcing those wide-ranging tariffs.
We're going to guide you through what they mean for the US economy, for the global economy as well.
And here to help us, we have two guests as always on opposite sides of the world.
We have Yoko Ishikura, who of course is Professor Emeritus at Hitsubashi University in Japan.
Quite a day, Yoko and the Tokyo Niki Index has just opened 3.4% down on Trump tariffs.
It probably tells us this may not be good news for Japan.
No.
And I think it's even worse
because I think there has been a little bit of an optimistic view before the trade tariff was announced this morning.
And it seems like that Japan may be exempt from tariff, overall tariff, but that expectation was shattered.
So I think a lot of businesses as well as government is pretty shocked.
They certainly are.
Also with us, we have Annika Green, Republican political strategist,
a rich global strategist and former political speechwriter in the US.
Annika, it's always great to have you on the program.
Look, there was so much speculation before,
and we've been doing it for days on this program about what was going to happen.
Were you surprised about the range of tariffs and how big some of them are on some of the US's closest trading partners?