The market response to Donald Trump’s determination to impose tariffs on Canada, Mexico and China has been swift and unsurprising. Whether or not this marks the start of a sustained fall in world share costs or only a momentary wobble stays to be seen. However I can see a number of dividend shares UK buyers may need to take into account shopping for for passive revenue if the previous proves to be the case.

Tesco

Grocery store big Tesco (LSE: TSCO) seems to be enticing relating to producing additional money. Its home market focus means it’s shielded, to some extent (however not utterly), from the influence of worldwide tariffs.

Based mostly on analyst forecasts, Tesco inventory adjustments palms at a forecast price-to-earnings (P/E) ratio of 13 for FY26 (starting in March). That’s not low cost for a client defensive inventory. But it surely’s nonetheless cheap relative to the UK market as an entire. A near-4% dividend yield can be greater than buyers would obtain from a fund that merely tracks the FTSE 100.

Positive, ongoing and intense competitors means this can at all times be a low-margin enterprise. Larger Nationwide Insurance coverage Contributions and a rise to the Minimal Wage from April are further headwinds.

But Tesco has not solely managed to carry on to its crown however develop its market share lately. That speaks volumes. And no matter what President Trump does subsequent, all of us nonetheless have to eat.

Nationwide Grid

Energy-provider Nationwide Grid (LSE: NG) is perhaps an alternative choice to think about. Whereas it does have publicity to the US, its major position is working the UK’s electrical energy and fuel transmission networks. Once more, that is one thing we merely can’t do with out and helps to clarify why the shares are literally up at the moment (3 February).

After all, no funding is ever with out danger. And current holders of Nationwide Grid actually didn’t react nicely to information final Could that the corporate can be lowering its payouts to assist fund its transition to renewable power sources.

Nonetheless, the forecast yield for FY26 at present stands at 4.8%. And having already reduce the payout as soon as, I believe administration can be unwilling to take action once more.

Debt is (very) excessive however the predictable nature of what the Grid does helps to appease any issues about this.

MONY Group

Worth comparability web site operator MONY Group (LSE: MONY) is a 3rd inventory price pondering. As issues stand, analysts have the FTSE 250 member down to yield a mighty 6.8% on the present share price.

Sadly, at the very least among the latter is down to the poor efficiency of the shares. A very good dollop of this may be blamed on “persistent soft market conditions” in its Residence Providers division. The surge in wholesale power costs has meant an absence of aggressive offers and fewer individuals switching suppliers.

Full-year numbers from the proprietor of Moneysupermarket.com are due on 17 February. I’m not anticipating fireworks. However any slight enchancment might make the valuation — simply 11 instances forecast FY25 earnings — appear like a discount.

No matter what occurs, the underlying enterprise has high quality hallmarks. Because of its online-only nature, we’re speaking sky-high margins and above-average returns on the money administration places to work.

Might this be yet one more UK firm that will get snapped up on a budget?