# UBS On-Air: Paul Donovan Daily Audio 'Sound and fury'

Page: https://stenobird.com/podcast/ubs-on-air-market-moves-2992243/ubs-on-air-paul-donovan-daily-audio-sound-and-fury
Text version: https://stenobird.com/podcast/ubs-on-air-market-moves-2992243/ubs-on-air-paul-donovan-daily-audio-sound-and-fury.md
Podcast: [UBS On-Air: Market Moves](https://stenobird.com/podcast/ubs-on-air-market-moves-2992243)
Published: 2026-07-21T06:50:00+00:00
Episode link: https://www.ubs.com/content/dam/podcasts/wma/260721-sound-and-fury.mp3
Audio file: https://www.ubs.com/content/dam/podcasts/wma/260721-sound-and-fury.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/ubs-on-air-market-moves-2992243/episodes/ubs-on-air-paul-donovan-daily-audio-sound-and-fury
Duration seconds: 163

## Resource

US President Trump threatened to impose a 50% tariff on US importers of products from Canada, without exempting products covered by the latest iteration of the NAFTA trade deal. If implemented, the tax would probably push up US consumer prices quite quickly. However, markets offered a muted response—the Canadian dollar and US inflation-linked bonds remaining relatively calm. Investors seem inclined to discount or dismiss such threats.

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## Transcript

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