Listen: The Trump Effect - A global economy gripped by uncertainty

The Trump administration appears to be powering through on its promise to impose sweeping tariff measures despite recent court rulings contesting their legality, but the form they’re set to take remains deeply unclear.

How these developments will feed through into the global economy is yet to be determined, but what we do know is that the uncertainty is taking a toll on consumer and business sentiment, fuelling market volatility, and complicating the work of central bankers.

ING's James Knightley says he expects a weaker growth environment in the US this year but is not yet convinced of a recession. Carsten Brzeski thinks the same is true of Europe, as uncertainty lingers at record highs. Both expect more rate cuts this year.

Meanwhile, in the UK, a trade deal with the US is less important than deepening ties with the EU, according to James Smith, who thinks the Bank of England is also likely to ease rates further after a quarter point cut last month.

As for the markets, Chris Turner says the euro should benefit from disillusionment with the dollar but the limited size of Europe's fragmented asset markets remains a constraint, and deeper integration is sorely needed.

Listen to our latest episode of THINK aloud, a replay of our live webinar, to learn more.