Smart money is sent to the regions of the world where it creates the most value, it's simple as that.

I've wondered about this too. My conclusion is that large companies (even those not ruled by oligarchs, we know they love Trump) like Trump and help him out. Lots of companies "ate the tariffs", oil companies do what they can to keep prices down, the media as a whole goes pretty easy on him. Even BBC runs defense for Trump. From the article:

Over the past few years, much of the developed world has buckled under a succession of shocks. Trump's sweeping tariffs have disrupted global trade. Mass deportations are changing labour markets. And conflict in the Middle East has sent oil prices lurching.

All of that, every single thing, is Trump's personal decision. Yet the BBC writes about 2 of the 3 things as forces of nature, with no human motivated cause, just something to deal with.

This should not be that mysterious? Only 10% of U.S. GDP comes from exports. So sensitivity to export trade is lower?

U.S.: 10–11% China: ~20% EU, extra-EU only: ~21% UK: ~31% EU, including intra-EU trade: ~50% (some countries affected more than others)