This issue of Liontrust Views examines what are tariffs, what they might mean for the global economy and why did Trump announce a partial pause for all countries other than China. We explain that in such turbulent periods, it is beneficial to reflect on some key investment principles to help navigate the market environment and that portfolios can be constructed to be able to mitigate the impact of these. And we have published our long-term performance chart of the FTSE All-Share market to reiterate that the ups and downs in the market become ever smaller as we move further into the future. Time in the market, rather than timing the market, is one of the most popular sayings in investment for a very good reason.