If we had to use one word to describe the mood in financial markets early in 2018, it would be 'greed' - characterised by low volatility and rising risky asset prices.
The debate has now turned to how sustainable this market paradigm is, and whether a short-term correction is imminent. In this context, one area which requires closer attention is US trade and the 'America First' economic policies of the Trump administration, which could upset the market mood. President Donald Trump has picked battles on two fronts. Firstly, he wants to renegotiate the North American Free Trade Agreement (NAFTA) and failing to do so, has threatened to withdraw. Secondly, the Trump administration recently imposed tariffs on imported washing machines and solar pane...
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