Will Trump victory spark global trade war?

Published On Nov 6, 2024, 7:01 PM

Donald Trump has pledged to impose tariffs of 10% to 20% on all imported goods if he returns to the White House, which could significantly impact global trade and prices. This rhetoric especially targets the European Union, which he accuses of unfair trading practices. In response to the potential tariffs, shares of major German car manufacturers fell sharply, as the US is a crucial market for them. The international community, including the EU, is preparing retaliatory measures, raising the specter of a trade war that could dampen global economic growth. The UK is caught in the middle, contemplating its trade stance post-Brexit.

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Stock Forecasts

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Investing in domestic US companies that could benefit from reduced foreign competition due to tariffs may yield positive results. Companies in sectors like manufacturing may see a boost as they could fill the gap left by foreign imports at higher prices. A potential symbol to consider is the SPDR S&P 500 ETF Trust, which includes various US companies that could benefit.

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