Deep Tide TechFlow News, December 4, according to Jin Shi reports, Trump refused to nominate former U.S. Trade Representative Robert Lighthizer to again take on the position, stating that he is “too timid and does not dare to make big moves.” Wolfe Research policy analyst Tobin Marcus wrote in a report to clients on Tuesday: “Trump’s personnel decisions reinforce our view that the threat of tariffs is real.” Lighthizer previously revealed in his book (there is no such thing as free trade) that he opposed directly tearing up the North American Free Trade Agreement (NAFTA) and instead supported reform plans.
Veda Partners analysis points out that the new trade representative may not strictly enforce the U.S.-China Phase One trade agreement signed in January 2020. Barclays warned that aggressive tariff policies would create headwinds for sectors such as materials, non-essential consumer goods, technology, industrial, and healthcare that rely on global supply chains. However, it also noted that this policy might reinforce American exceptionalism, expanding the profit and valuation advantages of U.S. stocks compared to other regions, especially relative to the European markets that lack strong political leadership.