In March, the White House announced global tariffs on steel and aluminum, with a long list of countries excluded. This was soon followed by direct tariffs on imported aerospace, IT and machinery products from China to counter what the White House describes as decades of intellectual property theft. Rising trade tensions are creating a ripple through the global markets. Below, GSAM’s portfolio managers discuss the implications of tariffs for China, Europe, Emerging Markets and the overall impact to the global economy and financial markets.
Neill Nuttall, Co-CIO, Global Portfolio Solutions, says 2018 is still on track for above-trend global growth, but moderation is likely, notably outside of US and particularly in Europe.
Steve Pastrick, Office of Government Affairs, Goldman Sachs and Co. LLC, outlines the initial and subsequent tone around the tariff announcements and the process to implement.
Sam Finkelstein, Deputy Chief Investment Officer, Global Fixed Income, discusses the outlook for China and the Emerging Markets in light of recent trade tariffs.
Suneil Mahindru, Chief Investment Officer, International Equity, Fundamental Equity, says global growth can manage its way through these discussions.
The panel discusses positioning a weaker dollar to reduce the trade deficit, short term volatility and an overall strong macro backdrop for the US.
The panel discusses where they see opportunities and risks across all asset classes.