US tariffs seems to be reshaping the world. In our lead article this quarter, we discuss how rising trade barriers signal a turning point in US policy, with significant consequences for global economic growth, inflation and investor positioning.
Investment Insights Q3 2025
7 July 2025
Article last updated 7 July 2025.
As our latest edition of Investment Insights highlights, the abrupt return of tariffs to US policy is one of the most significant developments for global markets in recent years.
Our lead article puts these tariffs into their historical context and considers what they mean for investors today. This quarter we also take a look at what other influences might constrain presidential power on this front - financial, legislative or judicial.
With tariff-related concerns contributing to the recent trend of weakness in the dollar, we offer some reasons why we think the greenback isn’t in danger of losing its status as the world’s preeminent reserve currency just yet.
Another risk facing investors is cybercrime, and we consider how investing in the cyber cops might be a way to hedge against this growing threat.
With so much complexity and uncertainty for investors to contend with, we finish this edition by taking a look at how behavioural science can help us make better investment decisions.
Liz Savage and Ed Smith
Co-chief investment officers
