The Financial Outlook for Personal Investors: What do US tariffs mean for the UK?

Everyone is asking what American tariffs mean for the UK, says Russ Mould of A J Bell. The UK isn't currently in the firing line, except for steel, but this may change next month because of VAT. 13% of global trade involves the US. For the UK, it totals £280bn, much less than with the EU. Trying to second guess what will happen is a fool's errand. Investors should go back to fundamentals. So far UK and European equities are not as volatile as in the US, partly because our markets are cheaper. American contacts claim that, unlike last time, Trump is less interested in the stock market than in the bond market, attempting to tackle America's bloated debt while keeping the treasury rate under control. Trump can't run for another term, but he might be concerned about his legacy.