During July, we started to get some clarity about the level of tariffs that the rest of the world will be charged as countries scrambled to reach an agreement with the US government ahead of their 1st August deadline.
The US has now reached agreements with many of its significant trading partners and whilst significantly
higher than pre-liberation day, the levels are often far lower than what was suggested by President Trump
on 2 April. Ambiguities still exist, but this is something to be expected now under the new regime.
Read more below or download the PDF.
Find out more in our August Investment update