President Trump's tariffs

President Trump’s tariff moves are again sending ripples through global markets. Just 24 hours after a federal court blocked the measure, the administration reinstated the tariffs, lifting import duties on steel and aluminum from 25 to 50 per cent. The abrupt policy shift has injected fresh volatility into already shaky markets and deepened concerns about the global trade environment.

Despite a late May rebound driven by bargain-hunting in tech, underlying signals suggest that confidence remains fragile. Businesses have front-loaded inventories in anticipation of disruptions, and international shipping volumes have continued to decline. For many, the sudden change in policy confirms what they already feared – that trade and economic settings remain anything but stable.

As the dust settles on last month’s equity rally, sentiment across markets remains cautious. While pockets of optimism still exist, most investors are preparing for more turbulence. With the northern summer bringing potential for further political and economic shocks, the priority for both businesses and fund managers will be flexibility. Strategic clarity and informed decision-making will be key in staying ahead of what remains a fast-moving and uncertain landscape.