The risk of trade wars has been discounted to some extent, as evidenced by the performance of equity markets and sectors.
While US President Donald Trump is unlikely to ease the pressure on trading partners prior to the mid-term elections, some moderation in rhetoric is possible thereafter should common sense prevail, which would allow investors to refocus their attention on supportive equity market fundamentals.
Article continues after advert
Andrew Milligan is head of global strategy at Aberdeen Standard Investments
Page 2 of 2
