U.S. TRADE POLICY AT THE CENTER OF GLOBAL ECONOMIC TENSIONS
PGIM Fixed Income’s Lead Geopolitical Analyst, Mehill Marku, reacts to President Trump's April 2, 2025 announcement on reciprocal tariffs.
Jakob Wilhelmus, Director of Thematic Research at PGIM, dissects a profound shift in global trade. While critical sectors like semiconductors and minerals move toward deglobalization, most of the world’s GDP—spanning apparel, consumer electronics, and tourism—continues along a globalization pathway driven by long-term economic imperatives.
A New Era of Globalization
Globalization has splintered into two distinct tracks, creating new investment opportunities and risks.
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