My feeling is there are three time periods to Trump's tariff issue.
The first is the immediate. ie The "shock" element which could go on the week or so. Of course, this could flowover into different immediate destructive issues like liquidation of hedgefunds, margin calls, liquidity issues, currency moves etc.
The second time period is the actual commencement of the reduction in USA trade as US consumers change their behaviours and goods into the US reduces. We will start to see the numbers for this beginning about June 2025. This could mean P/E's could halve until the this time period.
The third time period is the reconstitution of world trade with non-US countries finding other markets for their products or drastically reducing whole industries. This could take a year plus.
Australia should be buffered from a lot of it from a trade view, but we are exposed through our huge investment in worldwide equity markets.
PPT Price at posting:
$16.47 Sentiment: Hold Disclosure: Held
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