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The Guardian - AU

Business

Patrick Commins and Jonathan Barrett

Ten days after ‘liberation day’, many Australians are still wondering: what just happened to global markets?

Donald Trump United States Australia Liz Truss Omkar Joshi Shane Oliver

Donald Trump with electronic board inside the Australian Securities Exchange, operated by ASX Ltd. — Amid huge stock selloffs, Donald Trump assured the world that ‘I know what the hell I’m doing’, but investors around the world have been panicking. Composite: REX/Shutterstock/AAP

By the time Australians woke Wednesday morning, 3 April, the world had changed.

In a single stroke of his pen, a former reality TV star, property mogul and now second-term president of the most powerful country in the world had undone a century of US trade liberalisation.

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