In this recent article in Campaign magazine, Lorna Tilbian contributes her thoughts on the impact of US tariffs on the UK ads industry.
“To quote Lenin, “There are decades where nothing happens; and there are weeks where decades happen.” The fundamental shift in American politics since the inauguration of President Trump is upending long-held assumptions about the US’s political and economic relationship with the rest of the world.
The imposition of Tariffs on 180 countries is having profound implications on the global economy and geopolitical alignments. Across every trading floor, every boardroom and every government office, there is only one question and nobody knows the answer! Probably not even the man who instigated the chaos and uncertainty that has engulfed the world. What will Trump do in 90 days – increase, hold or cut his tariffs?
How will this impact the ad agency world? Given the uncertainty being created and the ensuing lack of consumer confidence, clients will hold back decision-making and marketing investment. Meanwhile, central bankers will be pulled between controlling inflation and boosting growth, holding or increasing interest rates or cutting them. The wisdom of Solomon would be tested, but with every market setback, the seeds of recovery and future growth will be sown.”
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