Everyone Is a Loser in Trade War Long Term, Says UBP's Calder

The video discusses the US-initiated trade war aimed at addressing long-standing trade imbalances. It highlights the potential negative impact on global growth if tariffs persist. The market is beginning to price in initial tariffs, but full impacts are not yet accounted for. Earnings in China have been stable, though sentiment is affected. The trade tensions extend beyond the US and China, affecting Asia due to interconnected supply chains, posing long-term risks to the region.

What is the primary reason the US initiated the trade war?

• To reduce domestic production

• To increase tariffs for revenue

• To strengthen diplomatic relations

• To address trade imbalances

How might global growth be affected if tariffs remain in place for a long time?

• It will significantly increase

• It will remain stable

• It will suffer

• It will have no impact

What has been the market's response to the initial tariffs?

• Complete ignorance

• Full pricing in of all tariffs

• Partial pricing in of initial tariffs

• Immediate recovery

Which sectors in China have seen downward revisions unrelated to trade?

• Healthcare and education

• Tourism and hospitality

• Technology and financials

• Agriculture and manufacturing

Why is the trade war particularly concerning for Asia?

• Due to its impact on local currencies

• Because of interconnected supply chains

• Because it increases tourism

• Due to rising oil prices