The Wealthy Will Shield Asian Banks From Trump Tariffs
Live MintBankers in Hong Kong and Singapore are in for a few busy months financing a rush of shipments from Asian exporters into the US ahead of President-elect Donald Trump’s proposed tariffs. Open, rules-based exchange of goods is a “lynchpin of global economic growth,” José Viñals, chairman of Standard Chartered Plc, told shareholders in the bank’s latest annual report. Trump’s policies, including tax cuts and tariffs, may trigger faster inflation, which could restrain the Federal Reserve’s interest rate reductions and set a floor for margins in Hong Kong’s banking market. If inflation is high and asset prices volatile, the global wealthy will want to put their cash to work in unconventional assets, especially ones they think will do well during Trump’s second term.
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