Trade War or Political Noise?

Our expectations for the market in this bulletin on trade protectionism by Candice Bangsund, Vice President and Portfolio Manager, Global CIO Office.

Despite the headlines, the actual impact of Trump’s tariff announcement is quite small, affecting only 2.5% of China’s annual exports. The larger worry is that it may be indicative of a turn toward protectionism that would weigh on global market growth prospects. In this short bulletin, we provide some key points to understand about the US tariffs and China’s relatively tempered response and examine the possible near term and long term ramifications.