0818 GMT - President Trump's early strike on tariffs is likely to hit investor confidence, says Mansoor Mohi-uddin, Chief Economist at Bank of Singapore. The consensus had expected U.S. tariffs to only threaten the economic outlook in 2H, after lengthy negotiations between the U.S. and its main trading partners, he says. There could be several implications from the sudden return of trade wars this year, including potentially higher U.S. import prices due to steeper tariffs, he adds. The U.S. and its trading partners could still reach an agreement before the new tariffs come into force on Tuesday, he notes. "But without a deal, financial markets' strong start to the year is set to come under pressure in the week ahead," he adds.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 03:18 ET (08:18 GMT)
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