Trump escalates trade war

US President Donald Trump has announced tariffs on Mexico, Canada and China, citing economic and non-economic reasons. The tariffs are set to go into effect on 4 February, unless a last-minute deal is reached. Mexico and Canada promptly announced retaliatory tariffs. This has led to risk-off sentiment in the market, with safe-haven assets in demand, equities lower and volatility rising across asset classes. The USdollar is the big winner and is rising. Chinese equities are outperforming thanks to gains in technology stocks. Looking ahead to this week, investors will be closely watching tariffs, earnings (including UBS, Amazon, and Eli Lilly) and the continued impact of DeepSeek on technology stocks. Mensur Pocinci, Head of Technical Analysis, notes that 5900 on the S&P 500 must hold for the medium-term uptrend to continue.00:00 Introduction by Helen Freer (Investment Writing)00:25 Markets wrap-up by Mike Rauber (Investment Writing)06:33 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis)09:16 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.