US President Donald Trump’s blanket imposition of 10% tariffs on all US imports is rattling its global trading partners but will likely have the worst impact on Americans – both in the markets and on the cost of goods for everyday citizens.

On the ECM front, global markets are spiraling, with European indices red across the board and America’s markets also on shaky ground. CoreWeave’s IPO was meant to be a success, burgeoned by AI hype, but in reality Nvidia saved the deal as investor scrutiny increased and markets faced uncertainty.

While the US remains a massive services exporter, particularly of cultural items like movies and music, retaliatory steps could look to hamper the value of America’s exports and affect American influence.

Sam Kerr, Mergermarket’s London-based Global ECM Editor, joins Dealcast host Julie-Anna Needham to discuss the impact of tariffs on global markets, including:

•          A look at Europe and China’s retaliatory measures – and why tariffs on US cultural and services exports could be the next step
•          Why Asia did not react as badly to Trump’s sweeping tariffs and how China may be insulated against some tariff measures
•          Why advisors may delay IPO issuances and how that could impact companies slated for listing like Klarna, Circle, and StubHub
•          A look into why CoreWeave’s IPO didn’t go as expected and why it’s likely not a particularly liquid stock

All this and more in this week’s Dealcast.