60 Economies, 1 Tariff Shock, Most Portfolios Aren't Nearly Ready
Sixty economies just got hit with new tariffs on the same day, and most portfolios are not built for that kind of shock, affirms the CEO of one of the world's largest independent financial advisory organisations.
Nigel Green ofdeVere Group's comments come as the Trump administration confirmed new duties of 10% to 12.5% on imports from most major trading partners, effective Friday, in its most sweeping trade action since the Supreme Court struck down the administration's original global tariff structure in February.
The levies follow an investigation into roughly 60 economies over forced-labour practices, touching nearly every major US trading relationship at once, from Canada and the EU to Japan, India, Switzerland and Taiwan.
Nigel Green says:
Rates vary by relationship. Canada, the UK, the EU, Taiwan, Mexico and India secured the lower 10% tier tied to forced-labour compliance, while Japan, Switzerland, South Korea and dozens of others face 12.5%. A separate investigation into industrial overcapacity across 16 more economies is already underway.
The deVere CEO says:
AdvertisementCurrency markets, bond yields, and equity sector rotation are all likely to move over the coming weeks, particularly where the new rate diverges sharply from what companies had priced in after earlier bilateral deals.
Nigel Green says:
He is telling clients trade policy has stopped being background noise and become something they have to actively plan around.
The deVere CEO says:
Nigel Green says:
The deVere CEO concludes:
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