Bloomberg Daybreak: Asia Edition

Trump Vows New China Tariffs, Wall Street's 'Bessent' Effect

15 snips
Nov 26, 2024
In this insightful discussion, Helen Zhu, Chief Investment Officer at NF Trinity, delves into the potential effects of new tariffs on Chinese goods, while Ross Mayfield, Investment Strategist at Baird, analyzes Wall Street's response to the nomination of Scott Besant. Tom Bruce, Macro Investment Strategist at Tanglewood, shares his expertise on the bond market's volatility and the Fed's potential moves. Together, they unpack the complex U.S.-China trade dynamics and the broader economic outlook, offering a nuanced view of current market trends.
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INSIGHT

Tariff Negotiation Tactic

  • Trump's proposed tariffs on Chinese goods are a negotiating tactic.
  • The tariffs aim to pressure China and address issues like fentanyl influx, not solely economics.
INSIGHT

China's Response & Negotiation Scope

  • China likely will address fentanyl concerns and engage in negotiations.
  • Negotiations will involve broader geopolitical and social issues, not just economic ones.
INSIGHT

Bessent's Influence

  • Markets view Scott Bessent as more dovish and rational than other appointees.
  • Despite this, Trump likely will make major decisions, but Bessent understands global trade importance.
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