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Date published:
9 May 2025
< 1 min
America’s tariff walls have not loomed so high in over a century. Just twelve months ago, the US maintained a trade-weighted average tariff of a modest 2.2%. Today, that figure has surged to between 22% and 24%, surpassing even the protectionist excesses of the 1930s and the notorious Smoot-Hawley Act.
Meaningful discussions are now underway it seems between the White House and most major trade partners, including, we think, China, and a fresh deal with the UK.
While final agreements will likely temper tariffs from today’s levels, an outright dismantlement appears very unlikely. Guy Monson, Chief Market Strategist, looks at where tariff rates might land and what this means for the global economy and your portfolio.
Watch the video below.