Trump’s tariffs: The winners and losers

The threat of President Trump’s tariffs is still looming large over markets around the world. If the original tariffs are enforced, China will see a significant downside surprise, whilst Japan’s automotive industry is expected to take a hit, and the EU may be faced with an economic slowdown. Countries like Cambodia, Vietnam and Thailand, with limited scope for retaliation, will also take significant hits. However, there are some that have managed to avoid the full force of Trump’s actions. Arguably, nobody wins in a trade war, but countries including the UK and Brazil may be seen as the more...