Hoping We Avoid "A World of Pain"

Believe me, it is my sincere hope that we'll soon be able to dispense with our intense focus herein on the present state of international trade relations. 

Otherwise, as Asia Society Policy Institute president Kevin Rudd states at the end of the 2-minute video clip below:

"....bit by bit, measure by measure, tariff by tariff, we're going to end up in a world of pain in what is already a globally soft economy."

The following will sound very familiar to clients and blog readers -- as Rudd echoes my concerns over the present state of U.S. trade policy. 



The chart below (top panel features global trade volume, bottom features the S&P 500 Stock Index) should help you appreciate where Rudd and I are coming from (red shaded areas are recessions):  click to enlarge...