The Logic Behind a Pernod Ricard-Brown-Forman Combination

Trump's tariffs are slowing global trade as companies pause orders and cut production amid higher costs and policy uncertainty. Expect weaker trade volumes and industrial output, some pass-through to input prices (upward pressure on inflation) and potential near-term 1-3% downside risks for exporters and supply-chain exposed firms.

Analysis

Trump's tariffs are slowing global trade as companies pause orders and cut production amid higher costs and policy uncertainty. Expect weaker trade volumes and industrial output, some pass-through to input prices (upward pressure on inflation) and potential near-term 1-3% downside risks for exporters and supply-chain exposed firms.