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US government shutdown

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Danger man: Trump is the wildcard as America shuts down

Stephen Bartholomeusz Senior business columnist October 2, 2025 — 11.58am

Past US government shutdowns have had only minor impacts on the economy and financial markets, but could this time be different?

That question looms large because this time the Trump administration enters a new financial year (the US government’s fiscal year starts on October 1) without funding, against a backdrop of tremendous economic uncertainty, much of it created by its own trade and immigration policies.

The unemployment rate was rising even before the shutdown, with as many as 750,000 government employees expected to be furloughed without pay and the administration threatening – unlike in previ

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