The stock markets were unhappy Friday when President Donald Trump moved to impose tariffs on steel and aluminum imports. Trump even tweeted “trade wars are good, and easy to win.”
Not so fast, says Ben Inker, head of asset allocation for Grantham Mayo Van Otterloo & Co. (GMO).
“He is wrong, and beyond the simple fact of his wrongness, a trade war is probably more dangerous for investors at this time than at any other time in recent history given the implications it would have for inflation, monetary policy, and economic growth,” said the GMO board member in a note to investors on Friday.
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