The fallout from Trump’s decision to impose tariffs on Mexico, Canada and China as well as promising to push levies on goods from the EU entered a second day on Monday, and unlike Sunday the markets were in position to react.

Things probably went as expected, with a broad based sell off. But traders would have felt whiplash after Trump agreed to pause Mexico tariffs for a month.

Still, companies already face tough decisions. Guinness owner Diageo, for example, faces costs of as much as $600 million because of the tariffs, while KPMG estimates levies on EU products would hit about a third of Irish exports. Colin Gleeson reports on both stories.