Wealth strategies update

The risk of a US public debt crisis – and implications for shares

President Trump’s tariffs remain a source of ongoing uncertainty. Just in the last two weeks, Trump announced a 25% tariff on smart phones and threatened a 50% tariff on European goods from June, then delayed it until 9th July. The US International Trade Court then ruled that the “Liberation Day” reciprocal tariffs and the Fentanyl tariffs on China, Canada and Mexico were illegal, which saw the Trump Administration appeal the decision through which time the tariffs remain in place. The Administration is now investigating other legal authorities on which to maintain the tariffs in case the appeal fails, and Trump has announced that the tariff on steel and aluminium will double to 50%. Read more below.