"Tough" Times Ahead As Tariff War Drags Markets Into Uncertainty | Jonathan Wellum

An ex-US perspective on America's new tariffs

The Trump Administration's torrent of tariffs is keeping stocks on edge as "Liberation Day" approaches on April 2nd.

Today I sit down with Jonathan Wellum, of Rocklinc Investment Partners up in Canada, to discuss how to invest through such market uncertainty.

Jonathan gives a valuable perspective on the Trump tariffs from a country on the receiving end of them.

And he provides his firm's latest guidance for investing in the precious metals sector during the bull run in gold & silver we're experiencing now.

For an important perspective before “Liberation Day” begins tomorrow, click here or on the video below:

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GOT GOLD?: Read our free Guide To Buying and Storing Gold & Silver:

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Adam’s Notes: Jonathan Wellum (recorded 3.31.25)

EXECUTIVE SUMMARY:

• Cautious Economic Outlook: Jonathan describes the global economy as a "pressure cooker," citing high stock valuations, shifting government spending, debt rollover difficulties, and tariff uncertainties. He anticipates sluggish growth in Europe, Canada, and China due to excessive taxation, regulation, and demographic pressures, forecasting a challenging period ahead for markets.

• Trump’s Economic Policies and Tariffs: Jonathan endorses the idea of fair trade underpinning America’s new tariffs but questions their aggressive rollout, which introduces business uncertainty. He posits that tariffs might reflect a new U.S. revenue strategy, taxing foreign entities for market access, with broad implications for global trade dynamics that still have yet to be efficiently priced into the financial markets.

• Gold as a Hedge: Jonathan links gold’s recent price surge to rising global debt, economic instability, and central bank purchases. He prefers