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Why Donald Trump's tariffs are hitting the pensions of British workers
Yorkshire Post
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08/04/2025
The negative stock market reaction to Donald Trump's tariffs has hit the value of retirement funds for millions of British workers.
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00:00
So Donald Trump and his tariffs have been costing British workers thousands of pounds from their retirement savings this week.
00:10
I want to explain why and how that's been happening.
00:12
So basically British workers are auto enrolled into company pension schemes that's been going on for over a decade now.
00:20
And that money is held by fund managers, pension funds like Scottish Widows,
00:25
who invest it in a variety of ways but including in the stock market,
00:30
all with the aim of growing that pot for you and basically, hopefully, growing you, creating a nice retirement.
00:38
The negative market reaction to the tariffs has been global.
00:44
We've all seen the headlines this week.
00:46
Perhaps people though haven't appreciated the impact it's having on them directly.
00:52
I checked my pension this morning, it's down 8.3% in value since January.
00:57
It lost about 2% in value yesterday, just showing the impact of what's happening at the minute.
01:04
Though it is worth taking a long view with pensions.
01:07
Over the last five years my pension value has tripled basically.
01:12
So you just need to keep calm with these things.
01:15
But there is a direct impact from these Trump tariffs on pension savings for millions of British workers.
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