Quotes
Investors are rattled at the prospects of a full-blown trade war breaking out,
Susannah Streeter, head of money and markets at Hargreaves Lansdown told the BBC, We’ve had a couple of meetings, we’ve had numerous phone calls. We’re getting along very well. We’ll see whether or not we can balance out our budget,
This wasn't a shock - it's been telegraphed for weeks - but investors will still feel the jolt as markets adjust to a move almost universally seen as damaging to global growth and financial stability,
said Stephen Innes at SPI Asset Management We suspect the path of least resistance for now is for Asian currencies and risk assets to weaken, together with a greater risk premia to account for future meaningful tariff moves beyond what we have seen,
I don’t believe market participants have fully grasped the extent of the potential fallout yet, especially as responses from affected countries unfold,
said Tareck Horchani, head of prime brokerage dealing at Maybank Securities in Singapore The rebound in household goods spending has also been driven by many promotional events such as earlier Black Friday sales and Cyber Monday, which was in December this year, meaning consumers are still bargain hunting,
The surprise for markets … is that Canada and Mexico retaliated immediately and that others, i.e. China and the EU, may follow their lead, resulting in a sharp contraction in global trade,
Tony Sycamore, a market analyst at IG told Reuters Trump’s trade war has started,
Alvin Tan, head of Asia currency strategy at RBC Capital Markets in Singapore told Reuters, noting it was hard to see the dollar retreating any time soon Repeated use of tariffs would incentivize other countries to reduce reliance on the US, weakening the dollar's global role,
The prospect of having a long and protracted trade spat between the world's two biggest economies is causing investors to take risk off the table today,
said Tim Waterer, chief market analyst at financial services firm KCM Trade During Trump’s first term in office, tariffs and trade tensions brought attention to the more general topic of the advantages but also disadvantages of globalisation,
said ING analysts led by Inga Fechner We’ll see what happens,
the US president replied when asked by reporters what countries would be next to be targeted by tariffs It’ll be tougher to secure exemptions this time than the last time,
Trump’s sudden tariffs — such as what we saw with Canada and Mexico over the weekend — have much broader ramifications than just creating a trade war,
WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!). BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.”
The president defended his decision, writing on Truth Social MAKE YOUR PRODUCT IN THE USA AND THERE ARE NO TARIFFS!”
Trump said on Truth Social in defense of his tariffs Am I going to impose tariffs on the European Union? Do you want the truthful answer or should I give you a political answer? Absolutely, absolutely.”
I have it in my mind what it’s going to be but I won’t be setting it yet, but it’ll be enough to protect our country,
Trump said Monday about his plan to impose tariffs on all imported goods The company is currently working through the complexities associated with the imposition of the tariffs,
Trump has always believed that free trade, especially with China, has resulted in America exporting jobs with American factories being replaced by foreign ones,
