US 'in danger of throwing away 50 years of economic advantage'

Europe and Asia uniting

Fund managers and CIOs have described the impact of President Donald Trump’s ‘Independence Day’ tariffs as both “immediate” and “lasting”, as they digest a flurry of trade barriers “more aggressive than almost all expectations”.

With a swathe of levies introduced on some of the US' largest trading partners, portfolio managers stressed the inflationary risk of the president's measures.  Trump announced a 10% global baseline levies on 2 April, and bigger, custom tariffs for the 'worst offenders'. "Trade tariffs should be expected to increase costs and inflation, reduce economic activity, and therefore growth, reduce company profitability, whilst damaging consumer and business confidence," said Neil Birrell, chief investment officer at Premier Miton Investors.  US futures and European equities drop as fallout...