Difficult to inspire confidence after 'chaotic' tariff announcements

Treasury minister says value of Island's reserves was affected by stock price falls

The treasury minister says it's difficult to inspire economic confidence when people see the "chaotic scene" caused by America's tariff announcements.

Last week Donald Trump unveiled plans to introduce global import tariffs before confirming he was pausing the rollout last night.

Alex Allinson told Manx Radio the impact the tariff announcements had on stock prices meant the value of the Island's reserves had fallen by around five percent.

While the markets have shown signs of recovery since President Trump's u-turn, Dr Allinson says the uncertainty is challenging: