Perhaps the most powerful property tycoon UK, Mark Preston, CEO of Grosvenor Group, stated that Donald Trump’s global restrictions on trade with tariffs were “pointless and foolish,” damaging the economies of all nations, including the US. Contrary to their expectations, the property mogul believes that the president’s policies on tariffs will ultimately be abandoned. This is because, in the past, tariffs have been “hopeless.” If anything, instead of protecting, tariffs boost global commerce, as seen by the 1948 General Agreement on Tariffs and Trade (GATT).
Despite this belief, the corporate magnate made it clear that Grosvenor has been barely affected by the trade wars. The property billionaire-owned company reported record-breaking profit increases for the previous year, at £86.4m, due to a decisive cost-cutting campaign and increased rental yields from corporations relocating to its central London offices.
Source: https://www.theguardian.com/business/2025/may/28/trump-tariff-war-global-damage-grosvenor-duke-westminster
