US president Donald Trump has said there might be "a little disturbance" as he imposes tariffs he claims are necessary. But fears of a recession in the US are growing.

This week Joseph Wilkins and David Thorpe are joined by Philip Chandler, chief investment officer of multi-asset at Schroders, to discuss whether investors should start worrying.

They also discuss the pivot from the US to European equities which some investors are making and how elevated geopolitical risk affects his portfolio decisions.

Then they discuss the price of gold, which has reached record levels, and what can be drawn from that fact.

The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.

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