Tue, 08 Apr 2025

Tue, 08 Apr 2025 What is all this tariff stuff about? Your questions answered

The BBC's Cost of Living Correspondent answers your questions about how the tariffs might impact your money

* Pensions are a long-term investment and should be viewed as such, even with stock market fluctuations.
* Pensioners with fixed annuities will not be affected, but those living off invested pensions may see reduced income due to stock market falls.
* Those investing directly in stocks or Child Trust Funds have seen losses in recent days.
* Tariffs are taxes on imported goods and could lead to higher prices for consumers, particularly for US imports.
* The government is monitoring the situation and has said it will not rush into introducing tariffs on UK goods.
* Cheaper foreign imports from countries like China may drive down prices of certain products.
* Uncertainty around tariffs and trade policy has led to interest rates being cut in anticipation of lower borrowing costs.
* Mortgage rates are expected to fall as a result, with some lenders already pricing in the potential for further rate cuts.
* The stock market turmoil is affecting retirement funds, particularly those tied to 401(k) plans in the US.
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