New wave of protectionism is the biggest threat to prosperity going forward

Commentators have highlighted the alarming rise of protectionism and geopolitical tensions, identifying them as one of the greatest threats posed to prosperity.

It’s unusual for trade issues to hit the headlines with such force and regularity but trade relations between the major economies of the world are very much in the spotlight. The United States is threatening to escalate its imposition of tariffs on Chinese goods, having already levied import duties on steel and aluminium products.

Meanwhile, in the UK we are seeking to find a way to forge a new trade relationship with other European countries after Brexit. Global economic growth prospects continue to provide a supportive backdrop but the ongoing geopolitical tensions and rising protectionism continue to dampen investor confidence and this remains a significant threat for the foreseeable.