Peter discusses how deepening tensions over trade between the U.S. and China could put downward pressure on markets in Asia and secondarily in Europe. Current economic expectations, which are set to improve, would need to be adjusted, impacting the markets.
Peter also discusses how this particular trade war is being conducted, compared to those in the past, with not only tariffs involved but also the impact on third parties doing business with certain countries and removal of access to the U.S. dollar market and intelligence.