If the tariffs can actually be enforced they have potential to slow down activity on our largest markets. The pundits that say the impact will be "minimal" on volumes of trade are only guessing. The equations are not only linear. Both the US and Chinese economies have their fragilities and there are "tipping points".
As noted these tariffs have potential to hit any country anywhere that uses China as an assembly location, and with plenty of debt bomb swans and emerging markets waiting for an excuse to fail ….. the tariff war may or may not push them over the edge. As I don't really know I'll give it a 50/50 chance either way. In the world of investments that is a VERY HIGH risk which is not covered by any prospective reward.
