Bloomberg Surveillance

Traders Search for Safety Amid Tariff Uncertainty

27 snips
Apr 8, 2025
Paul Krugman, a renowned economist and NY Times columnist, joins forces with James Steel, HSBC's Chief Commodities Analyst, and John Stoltzfus, Chief Investment Strategist at Oppenheimer & Co. They explore the current tariff landscape, focusing on uncertainties impacting both trade and the economy. The guests discuss how rising import prices pose risks to productivity and investment. With insights on commodity trends, including gold's fluctuating value, they analyze strategies investors can leverage amid the chaos of international trade challenges.
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INSIGHT

Impact of High Tariffs and Uncertainty

  • The US economy faces significant challenges due to extraordinarily high tariffs and trade policy uncertainty.
  • These tariffs are substantially larger than those imposed during the Smoot-Hawley era, with the US economy now far more reliant on international trade.
INSIGHT

Challenges in Trade Negotiations

  • China's refusal to negotiate and the limited concessions other nations can offer pose significant obstacles.
  • Trump's trade policy is driven by a desire for tariffs, with justifications often constructed afterward.
INSIGHT

Remaking International Order

  • The Trump administration's tariff policy aims to restructure the global economic order.
  • However, the US trade deficit is primarily due to attracting foreign capital, not inherent flaws in the system.
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