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Schwab Network

Shaoul: Trade War has Moved from Tariffs to Commodities

10 min21 oktober 2025

Michael Shaoul argues the trade war is less about tariffs and more about commodities. He thinks commodities will become more expensive in the next few years as the U.S. and China create stockpiles and continue to battle over access. He discusses trade war strategies and compares them to historical precedents. Michael expects a “scramble for allies” by the two superpowers.


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