Equity investors are balancing President Donald Trump's tariff threats against positive fundamentals, along with easing interest rate and inflation risks over the last few years. We look at why Trump's approach may, over the medium-term, help to propel stock prices higher.
It’s mostly non-US equities that have ignored the noise coming from President Donald Trump on tariffs on the belief there will not be a protracted trade war. This may be because Trump is veering towards using reciprocal tariffs.
There’s also room for transatlantic tensions to ease as it makes sense for the US and EU to find some common ground that will be beneficial to both sides.
So what impact, if any, will all this have on equities going forward? US stocks have lagged their peers in 2025, but this may not continue for long as ultimately US equities are still exceptional in terms of their ability to generate superior earnings per share growth.
The value of an investment may go down as well as up and you may get back less than you originally invested.
Past performance is not a guide to future performance.
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