Santander Private Banking | State of play - 22 May 2025

State of Play. 22 May 2025

Final focus on Tariffs

It’s been over a month since we first talked about the effects of the new US tariffs. In our second update, we explored the impact of the temporary pause in Trump’s tariffs. Now, in the final commentary, we reflect on what happened and consider how the markets have changed over the past few weeks.

We’re please to invite you to our next online event where we’ll be discussing investment markets and the factors which have shaped them over the last twelve months.

James Ind, Chief Investment Officer at SAM UK, will also be talking about expectations for the future and what factors could affect investment performance in the short and longer term.

We hope you can join us on Wednesday 11 June 2025 at 12pm.

Santander UK plc. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England and Wales. https://www.santander.co.uk. Telephone 0330 9 123 123. Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 106054. You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register. Santander, Santander Investment Hub and the flame logo are registered trademarks.