World Trade Organization's Ngozi Okonjo-Iweala Says If Trump Is Elected And 10% Tariffs Enforced This Would Result In 'Tit For Tat Approach' And 'Lose-Lose' Situation
Portfolio Pulse from Benzinga Newsdesk
World Trade Organization's Ngozi Okonjo-Iweala warns that if Trump is elected and imposes 10% tariffs, it would lead to a 'tit for tat approach' and a 'lose-lose' situation, according to Reuters.
April 16, 2024 | 2:59 pm
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NEGATIVE IMPACT
The Dow Jones Transportation Average (DJT) could face volatility due to potential trade restrictions impacting the transportation sector.
Trade tariffs can significantly affect the transportation sector by increasing costs and reducing international trade volumes, potentially leading to lower earnings for companies within the DJT.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
The iShares MSCI Japan ETF (EWJ) might experience negative impacts due to escalating trade tensions between the US and other countries, including Japan.
Japan, being a major trading partner with the US, could see its exports affected by tariffs, indirectly impacting the performance of EWJ.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) could be adversely affected by the proposed tariffs, exacerbating US-China trade tensions.
Given the size of trade between the US and China, new tariffs could severely impact Chinese companies represented in FXI, leading to potential declines in the ETF's value.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may face downward pressure due to increased trade tensions and market uncertainty.
As a broad measure of the US stock market, SPY could be negatively impacted by the overall economic uncertainty and reduced global trade resulting from the proposed tariffs.
CONFIDENCE 85
IMPORTANCE 100
RELEVANCE 90