US Commerce Sec Ross: Stock markets' state won't change Trump's trade policy - CNBC
Speaking on CNBC's 'Squawk Box' the U.S Commerce Secretary Wilbur Ross said that there was no bright line level of the stock market that would change policy President Trump's trade policy.
"There is obviously going to be some pulling and tugging as we try to deal with very serious problems. There will be some hiccups along the way. You can't deal with day-to-day stock market fluctuations," Mr. Ross further added.
In a recently published article, FXStreet analyst Yohay Elam shared his views regarding the connection between Trump's trade policy and the Wall Street.
"There are growing reports about the damage already done, with the most recent warning coming from Daimler, which directly linked trade to a lower profit margin. Canada is probably suffering more than any other country."
"Nevertheless, stock markets are mostly calm. With every new development, equities lose some ground but recover within a few hours. The markets have a short memory for the latest worrying deterioration on the trade front but have a long memory for the "buy the dip" mentality. "
Trade wars: Only a stock market crash can stop Trump, 3 reasons
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
