Bosses from major banks including Bank of America, Barclays, Citi, and HSBC held an urgent private call to discuss the impact of Donald Trump’s tariffs on global financial markets. The call was organized by the Bank Policy Institute and included CEOs such as Brian Moynihan, CS Venkatakrishnan, Georges Elhedery, and Jamie Dimon. The meeting aimed to help US bank executives share their thoughts with international peers amid market chaos, which has resulted in one of the worst disruptions felt in decades since Trump's announcement last Wednesday.

US President Donald Trump defended his sweeping tariffs on imports, saying "sometimes you have to take medicine to fix something". The tariffs sent shockwaves through global stock markets, with Asia's Nikkei 225 and Hong Kong's Hang Seng experiencing significant losses. US banking giant JP Morgan predicts a 60% chance of a US and global recession. Trump officials, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, played down recent stock market falls and recession fears, emphasizing the need for economic adjustments.

Jaguar Land Rover has paused all shipments of its vehicles to the US as it works to address Donald Trump’s tariffs. The company's decision comes after a 25% levy on foreign cars imported into America took effect, and a wider 10% tariff on goods from around the world was introduced. The pause in shipments will take place in April while the company develops its mid-to-longer term plans.

Elon Musk publicly dissented with Trump on tariffs, stating he hopes to create a zero tariff zone between Europe and North America. This comes days after Musk resigned from the Department of Government Efficiency (DOGE) amid speculation that his departure was linked to policy disagreements. The timing raised eyebrows, as Musk personally lost billions in market value due to the tariffs' impact on the US stock market, which experienced its worst trading week in five years.