lawrence gosling, editor—in—chief at what investment joins me now.re in britain. let's talk about these trade tariffs, do you think they are inevitable? i think they were. what we have seen with the trump administration in the 18 months or so administration in the 18 months or so is made to noises in the election run—up 110w so is made to noises in the election run—up now he is beginning to fulfil them and clearly a trade war, and specifically china was one he talked about quite a lot. this is quite a low—grade tariff war so far, the concern is doesn't escalate in here? i would say probably not. it has been fairly tit—for—tat sofar. i would say probably not. it has been fairly tit-for-tat sofar. it is not just been fairly tit-for-tat sofar. it is notjust agricultural products, is it? you mentioned low—grade steel as well. low-grade steel, clearly for mrtrump, the well. low-grade steel, clearly for mr trump, the rustbelt was a big election winning ground. he talked about the steel industry, so he has put tariffs on chinese steel and the chinese have r