Michael Olivia

From a negotiation perspective, it's a powerful tool. From a market perspective, it leads to increased uncertainty. In the near-term, we would expect to see volatility in markets as they attempt to price in the net impact of tariffs.

While it is hard to see these trade tensions escalating into a trade war, the President has shown that he is not afraid to leave the negotiating table, from a negotiation perspective, it's a powerful tool. From a market perspective, it leads to increased uncertainty. In the near-term, we would expect to see volatility in markets as they attempt to price in the net impact of tariffs.