Daniel Pfund, Senior Financial Analyst
May marked a negative turning point in the progression of global stock markets. The reason for this is the world’s two leading powers; the United States and China. Mr. Trump decided to increase import tariffs from 10% to 25% on $200 billion of Chinese goods. And if that were not enough, he would be willing to tax other goods still spared (also at 25% on a total of 300 billion). In return, China retaliated by imposing taxes on 60 billion US imports. Unfortunately, it is the consumer who will pay the costs, and inflation is likely to rebound.