Huw van Steenis Reflects On The 'Nixon Shock'
April 15, 2025
What will the long-term financial consequences of tariffs look like? Huw van Steenis, partner and vice chair, reflects on the 'Nixon shock' to help investors see what may happen next.
Recent events resemble the economic shockwaves that occured when then-President Nixon removed the dollar from the gold standard, implemented a 10 percent import tariff and introduced temporary price controls in 1971.
It's not clear what the prolonged effects of tariffs will be in today's global economy, but if history follows suit, the fallout could be felt for years to come.
Read Huw's full article here in the Financial Times (paywall).