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Bangkok Post Group
  • 2/3/2025
Global markets are set for a fresh jolt on Monday (February 3) after U.S. President Donald Trump launched a trade war with sweeping tariffs on Canada, Mexico and China that threaten to undermine economic growth and reignite inflation. - REUTERS
Transcript
00:00Global markets are set for a fresh jolt on Monday
00:03after U.S. President Donald Trump launched a trade war
00:07with sweeping tariffs on Canada, Mexico, and China.
00:10Trump's 25% levy on goods from Canada and Mexico,
00:14along with a 10% tariff on China,
00:17could lead to financial turbulence,
00:19according to University of Sydney
00:21business school professor, Boo-Hee Kiu.
00:23I would say that we're entering
00:25to a period of high uncertainty.
00:29We don't know what's gonna happen
00:30and the economic uncertainty is gonna be high,
00:33stock market volatility is gonna be high.
00:35And with this trade war,
00:38it will come with inflation pressures on all countries.
00:41The potential to drive up consumer prices
00:43is a particularly sensitive area for investors
00:46who are worried about a revival in inflation
00:49causing the Federal Reserve to stop cutting interest rates.
00:52Market analysts say they expect
00:54sizable moves in currencies,
00:56with JP Morgan predicting Friday
00:58that the Mexican peso could drop more than 10%.
01:01Analysts also expect some kind of selloff in stocks
01:05and other higher risk assets.
01:07Berkeley's strategists previously estimated
01:10the tariffs could create a 2.8% drag
01:13on S&P 500 company earnings,
01:16including the projected fallout from retaliatory measures
01:19from the targeted countries.
01:21Though Goldman Sachs said on Sunday
01:23it believes the tariffs on Mexico and Canada
01:25will be short-lived.
01:27American companies reporting quarterly earnings this week
01:30like Ford Motor will likely face a barrage of questions
01:33about the impact of the new policy.
01:36Automakers are expected to be particularly hard hit
01:39through tariffs on vehicles assembled in Canada and Mexico.
01:43Their vast regional supply chain,
01:45where components can cross borders several times
01:48before final assembly,
01:49would further exacerbate these costs.

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