President Donald Trump's tariffs of 10% to 12.5% on 60 trading partners are having an indirect and mixed impact on 401(k) retirement accounts. The tariffs, which Reuters describes as a near-global tariff wall, inject greater short-term volatility and sector-specific risks, yet overall market gains have remained strong. Research by the Federal Reserve Bank of New York finds that roughly 90% of the economic burden falls on U.S. companies and consumers, costing the average household about $1,100 annually. Domestically focused sectors may benefit from reduced foreign competition, and tariff scares sometimes produce rapid slingshot rallies once policies are paused. Experts advise avoiding emotional decisions, maintaining broad diversification, and recognizing that trade policies may be disruptive but do not spell doom for retirement accounts.