The vast majority of financial advisers (78%) believe that US President Trump’s sweeping tariffs will cut clients’ appetite to invest.

According to an Opinium poll, advisers expect clients to be put off investing.

The tariffs have shaken client confidence, Opinium said.

The poll was carried out during April soon after the Trump tariff plans were announced. Soon after Mr Trump softened some of his plans with temporary halts on the highest tariffs and a promise to strike deals with some nations.

According to the survey:

• 27% of advisers think investors are likely to move money into cash

• 30% of advisers expect to see investors investing less than usual

• Only 18% of IFAs think the US presents the best market for buying opportunities – down from 40% in December 2024

IFAs told Opinium that even the 10% baseline tariff Donald Trump has imposed on imports from countries across the world, including the UK, will make clients less likely to invest.

Alexa Nightingale, global head of financial services research at Opinium, said: “The tariffs imposed by the US are clearly shaking investor confidence, with a majority of advisers warning that clients may pull back or move into cash.

"It's telling that optimism about US investment opportunities has more than halved since December — a stark reflection of the uncertainty these trade measures have triggered.

“While the recent UK-US trade agreement offers some relief by reducing tariffs on key sectors like aerospace and automotive, the broader 10% baseline tariff remains in place, leaving many investors cautious about future prospects.”

• Opinium carried out an online survey of 200 UK Independent Financial Advisers between the 21 and 30 April.