The global trade landscape has entered a period of extreme volatility following a series of sweeping tariff announcements from President Trump’s administration. In a matter of weeks, we’ve gone from a blanket 10% tariff on all imports to targeted country-specific hikes — and then a partial retreat, leaving businesses and investors scrambling to keep up.
With tariffs now standing at 125% on Chinese goods and a 90-day suspension granted to most other countries, the current climate is one of uncertainty, rapid escalation, and strategic repositioning.
What’s Happened So Far?
Just as a reminder, here’s how we got here:
February 2025: President Trump announced a 25% tariff on all imports from Mexico and Canada, plus 10% on Chinese goods. Within days, this was paused for Mexico and Canada following pledges to crack down on drug trafficking.
March 2025: The U.S. pushed ahead with tariffs on North American imports. China retaliated with its own tariffs on U.S. energy, crude oil, and agriculture.
2 April – “Liberation Day”: A major escalation. Trump declared a national emergency and imposed:
A 10% universal tariff on all imports, regardless of origin
Additional tariffs on 57 countries, including an extra 34% on China (totalling 44% on Chinese goods)
4 April: China hit back with 34% tariffs on all U.S. goods, effective 10 April.
7 April: Trump warned of further action if China didn’t back down.
9 April: The U.S. followed through, raising tariffs on Chinese goods to 125%, while suspending the higher tariffs for other countries for 90 days. The 10% universal tariff remains in place.
What This Means for Your Clients
Trump’s latest tariffs have reshaped the trade and investment landscape — with very different implications depending on where your clients are based and how they’re exposed.
- Clients reliant on Chinese goods, whether for business operations or personal investments, are now facing steep consequences. The US has raised tariffs on Chinese imports to 125%, and China has retaliated in kind. This affects not just importers, but also HNWIs with exposure to global equity markets, supply-chain-sensitive funds, or luxury goods tied to Chinese manufacturing.
- Clients trading with or sourcing from other nations have a temporary reprieve. The 90-day suspension of higher tariffs (excluding China) offers some breathing room — but there’s no guarantee it will last. UK-based clients exporting to the US, expats running global ventures, and internationally diversified investors all need to plan for renewed volatility.
Even for those not directly engaged in cross-border trade, the wider economic effects — from market swings to inflationary pressure — are real. This is a time to reassess global positioning, ensure portfolios are resilient, and explore opportunities in shifting sectors and regions.
Whether your clients are business owners, private investors, or globally mobile professionals, they’ll benefit from calm, strategic guidance grounded in up-to-the-minute insight.
Supporting IFAs Through Shifting Ground
Trump’s escalating tariff policies — culminating in a 125% tariff on Chinese goods and a 90-day suspension for most other trading partners — have created an environment of market volatility, disrupted supply chains, and heightened uncertainty. For independent financial advisers (IFAs), this moment calls for calm leadership and clear, proactive planning.
Below are key areas where IFAs can add real value, helping clients navigate the turbulence and make smart, confident decisions.
Navigating Uncertainty with Confidence
Although markets initially reacted with sharp declines, the announcement of the 90-day suspension brought some relief. Still, the underlying uncertainty remains. As an IFA, it’s critical to help clients refocus on long-term objectives and tune out short-term noise.
Now is the time to revisit international exposure, especially within client portfolios that include global equities or emerging markets. Currency risk also deserves renewed attention, particularly for clients with significant holdings or liabilities in USD, GBP, or CNY.
The most valuable asset in volatile times? Clarity. Clear communication and a steady emphasis on long-term strategy can help clients remain grounded — and reduce the risk of panic-driven decisions.
Reassessing Diversification
The new tariffs have created uneven pressure across regions and sectors. China, still subject to the full force of Trump’s trade policy, represents the most immediate concern. However, the 90-day suspension for other countries offers an opportunity: a window for advisers to reassess the shape of geographic and sectoral exposure.
Now is a good time to identify residual exposure to Chinese imports, tech manufacturers, or global supply chains that may be affected by ongoing tensions. Stress-testing portfolios for resilience against further regional instability can uncover vulnerabilities before they become problems.
Diversification is more than a buzzword — in this context, it’s a tool for proactive risk management.
Inflation, Interest Rates, and Real Returns
The knock-on effects of protectionist trade policies often feed into inflation, especially as import costs rise. With the Bank of England continuing to flag inflationary pressures, advisers must stay alert to shifting economic indicators.
This environment calls for a reassessment of retirement plans, particularly around spending power and inflation assumptions. Fixed income allocations may also need to be revisited, with close attention paid to bond duration and interest rate sensitivity.
Ultimately, the goal is to ensure that client portfolios remain focused on real returns — growth after tax and inflation — rather than being lulled by nominal gains that don’t keep pace with rising costs.
Supporting Business Owner Clients
For advisers with business-owner clients, the stakes are particularly high. Even UK-based exporters not directly affected by US-China tariffs may still face rising input costs, FX volatility, or disruption from trading partners caught in the crossfire.
This is a good time to initiate practical conversations around cash flow planning, especially for businesses that import from Asia or export to the US. Currency hedging strategies may help protect margins, while supply chain reviews can flag vulnerabilities before they become bottlenecks.
Financial advice doesn’t stop at the portfolio — it extends into the day-to-day realities of running a business under pressure.
From Panic to Planning
While markets have staged a partial recovery since the initial announcements, uncertainty hasn’t vanished. Global tensions are ongoing, and further retaliatory measures remain a possibility.
This is where thoughtful, proactive planning shines. Advisers can add real value by helping clients re-align their goals with the evolving landscape, rebalance portfolios to maintain risk discipline, and ensure open, ongoing communication.
Reassurance isn’t just about offering comfort — it’s about providing structure, insight, and strategy when it matters most.
Navigating Trump’s Tariffs
Trump’s tariff strategy has introduced a new level of unpredictability into global markets. While the 90-day suspension offers a temporary reprieve for many, the underlying tensions — particularly with China — remain unresolved. For clients, this is a time of valid concern. For advisers, it’s a time of meaningful opportunity: to lead with clarity, to plan with foresight, and to deliver value through insight-driven, tailored guidance.
As an IFA, your ability to remain calm, informed, and proactive will set you apart. Whether your clients are business owners, retirees, expats, or HNW investors, the right conversations now can help them feel secure, supported, and prepared for what lies ahead.
Need support navigating the ripple effects of these tariffs?
Lawsons Network is here to help. From technical guidance to peer insights, we equip IFAs with the tools and resources to support clients in complex, fast-moving environments.
Get in touch to find out how we can help you turn uncertainty into opportunity — for your practice, and for the people who trust your advice.
