As we approach a key deadline in global trade policy, Lazard Head of Geopolitical Advisory Theodore Bunzel shares his analysis on progress and potential risks in the shifting trade landscape. Key insights include: ??? Baseline tariff rates are becoming clearer: ~20% for many emerging markets, 15% for developed markets. ??? Unresolved issues remain in EU and Japan trade frameworks—especially around investment and purchase agreements. ??? Sectoral tariffs are looming for pharmaceuticals; and semiconductors & electronics—raising important questions around capex decisions for affected companies ??? The effective U.S. tariff rate has increased dramatically, with real inflationary consequences expected. Watch the video below to learn how these developments may impact earnings, inflation, and strategic planning across sectors.
