World Braces for Bigger Trade Wars if Trump Wins

Published On Oct 3, 2024, 5:03 AM

As the U.S. presidential election approaches, businesses face uncertainty regarding future trade policies and tariffs. The whiskey industry, in particular, is bracing for a potential 50% tariff on American whiskey exports to Europe set to start in March unless a compromise is reached. Candidates have differing views: while Kamala Harris supports targeted tariffs potentially similar to Biden's more collaborative approach, Donald Trump leans towards aggressive tariff policies, proposing a 60% tariff on Chinese goods. This unpredictability complicates business planning, especially for industries reliant on long-term projections like whiskey production.

Read full article

Stock Forecasts

BHPView BHP chart on TradingView

Negative

Given the potential tariffs on whiskey exports, companies in the whiskey industry may face significant challenges ahead, particularly those with substantial sales in the European market. If Trump wins and implements aggressive tariffs, this could further impact whiskey sales and profits leading to negative market reaction.

SPYView SPY chart on TradingView

Positive

If Kamala Harris wins and takes a more targeted approach to tariffs, it could provide stability and potentially positive market sentiment for industries like whiskey. Under her administration, the possibility of avoiding the 50% tariffs on whiskey exports could maintain or even boost sales leading to a positive market trajectory.

Related News

Inflation is not ‘dead at all’ despite ‘coming down’: Hoenig | Fox Business Video

Capitalist Pig hedge fund manager Jonathan Hoenig weighs in on market rallies, his concern for everyday Americans amid inflation, and his stock pick.

SPY

Jamie Dimon warns of 'critical issues' that could affect US economy

Oct 11, 2024, 12:25 PM

JPMorgan Chase & Co. chief Jamie Dimon on Friday sounded the alarm about "critical risks" to the U.S. economy in the bank's third quarter earnings report.

SPY

Idea that Fed has managed this soft landing 'is starting to take hold': Kenny Polcari | Fox Business Video

Slatestone Wealth Chief Market Strategist Kenny Polcari discusses the market rallying following the inflation report, Jamie Dimon's warning of geopolitical risks, and how he fared during Hurricane Milton.

SPY
TLT