History Repeats as Trump Tariffs Rattle Global Markets, Warns deVere CEO

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News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/history-repeats-as-trump-tariffs-rattle-global-markets-warns-devere-ceo/

The ghost of protectionism past is haunting global markets as the Trump administration’s latest tariff blitz reignites fears of a trade war spiral—one that could mirror the catastrophic missteps of the 1930s.

Nigel Green, CEO of deVere Group, a heavyweight in global financial advisory, is sounding the alarm: “We’ve seen this playbook before, and it ends in economic wreckage.”

The parallels are unnerving. In 1930, the Smoot-Hawley Tariff Act, designed to protect U.S. industries during the Great Depression, backfired spectacularly. Retaliatory tariffs from trading partners cratered American exports by over 60%, deepening the global economic crisis. Nearly a century later, history’s echo is deafening. President Trump’s tariffs on Canada, Mexico, China, and threats against the EU have already sent European and Asian stocks tumbling, with trade-sensitive sectors like tech, autos, and consumer goods bearing the brunt.

“Protectionism is a self-inflicted wound,” warns Green. “The Smoot-Hawley debacle taught us that tariffs don’t shield economies—they suffocate them. Today, we’re staring at the same risks: rising costs, snarled supply chains, and inflationary shocks that hit Main Street as hard as Wall Street.”

Markets are flashing warning signs. Equity sell-offs have swept North America, Europe, and Asia, while bond markets signal growing unease. The yield curve—a bellwether of economic sentiment—is twisting as short-term rates climb and long-term rates dip, hinting at fears that growth could stall. Even cryptocurrencies, often touted as “digital havens,” have whipsawed violently, with Bitcoin and Ethereum shedding value before clawing back losses.

Commodities aren’t spared. Oil prices have surged on fears that North American energy exports could get caught in the crossfire, while agricultural markets brace for chaos. China and the EU have already drawn up retaliatory tariffs targeting U.S. goods, from soybeans to bourbon—a tit-for-tat script ripped from the 1930s playbook.

Yet Green sees a silver lining in the storm clouds. “Volatility isn’t just risk—it’s raw opportunity,” he argues. “Investors who navigated past trade wars learned to pivot: diversifying assets, hedging currencies, and leaning into sectors less exposed to tariffs, like utilities or healthcare. The same rules apply today.”

The stakes are sky-high for trade-dependent industries. Automakers are scrambling to reconfigure supply chains built over decades, while retailers face margin squeezes as import costs balloon. Meanwhile, governments are walking a tightrope: How to retaliate without triggering a full-blown trade collapse? Canada and Mexico have already fired warning shots with tariffs on U.S. steel, agriculture, and consumer products. China, ever strategic, is expected to escalate its response, potentially targeting U.S. tech giants or financial services.

For investors, Green’s message is clear: Adapt or suffer. “The 1930s taught us that knee-jerk reactions are fatal. Today’s winners will be those who stay agile—balancing safe havens like gold and bonds with strategic bets in undervalued markets. And don’t ignore alternatives: Private equity and infrastructure can hedge against trade-driven inflation.”

But not everyone’s convinced. Critics argue that modern global supply chains are too interconnected for a full Smoot-Hawley rerun. “The world economy is more resilient now,” says Claudia Calich, head of emerging markets debt at M&G Investments. “But resilience isn’t immunity. If tariffs escalate, the damage will be swift and widespread.”

One thing’s certain: Uncertainty is the new normal. As Trump digs in and trading partners retaliate, businesses face a labyrinth of red tape and rising costs. Consumers, too, will feel the pinch—whether at the gas pump, the grocery store, or the car dealership.

Green’s final warning cuts through the noise: “History doesn’t repeat, but it rhymes. Investors who dismiss these lessons risk being steamrolled. Those who listen? They’ll find opportunity in the chaos.”


This isn’t just a story about tariffs—it’s a stress test for globalization itself. The Trump administration’s aggressive stance forces a reckoning: Can the world economy withstand a return to 1930s-style protectionism, or will it unravel the very systems that fueled decades of growth?

What’s striking is the duality of the crisis. For every boardroom panic, there’s a hedge fund manager eyeing bargains in battered sectors. For every factory fearing shutdowns, there’s a startup betting on localized production. The tension between risk and opportunity defines this moment.

Yet the human cost lingers beneath the market metrics. Tariffs may be abstract in trading floors, but they’re brutally concrete for farmers facing export bans, factory workers eyeing layoffs, and families bracing for pricier goods. The lesson of Smoot-Hawley wasn’t just economic—it was human. As Green warns, we forget that at our peril.

News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/history-repeats-as-trump-tariffs-rattle-global-markets-warns-devere-ceo/

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