04/04/2025
The downturn began after the US administration announced extra tariffs on imported goods across the board, which was seen as a response in an exchange of tit-for-tat over intellectual property rights as well as other trade issues.
Tarrifs have long been a flashpoint for conflict. Look at the Smoot-Hawley Tariff Act of 1930 in the U.S., which jacked up duties on thousands of imports. It aimed to shield American farmers and businesses during the Great Depression, but other countries fired back with their own tariffs, shrinking global trade by something like 66% in a few years. No bullets were fired, but the economic fallout was brutal.
How central banks and governments respond will determine whether these shifts create long-term opportunities or new vulnerabilities.
But for the general populationon, how does this affect your strategy and goals for accumulating wealth?
