Brexit and Trade Wars Are Quietly Undermining the Markets

Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Advertisement Supported by ByPeter Eavis July 11, 2018 Looking at the stock markets of the developed world, it is not immediately apparent that populists are busily hacking away at the postwar international economic order. The United States has, in the past four months, pursued a series of trade actions against its largest trading partners, including the announcement on Tuesday of $200 billion in tariffs on Chinese goods. The American stock market is up over that period. Since Britain voted in June 2016 to leave the European Union, its stock market has moved significantly higher. It did not even decline on Monday when two prominent ministers resigned from the British government, a protest of Prime Minister Theresa May’s plan to retain a close trading relationship with the European Union after the country leaves the bloc next year. The resignations were a reminder that, should Mrs. May fail to gain lasting support for her plan, the uncertainty surrounding Britain’s departure could escalate. But the headline stock market numbers do not tell the whole story. A closer look suggests that the threats to the global trading… Read full this story

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