Trade war looms after U.S.’s tariff announcement

The announcement of President Trump’s recent tariff hikes sparked speculation across the globe. Is a global trade war on the cards? Leon Perera, CEO of Spire Research and Consulting, shared his thoughts in The Business Times – Views from the Top section on 19 March 2018.

President Trump is heading into dangerous waters with the recently announced trade tariff hikes, for which his administration has cited national security as the rationale under US Trade Law and Article XXI of World Trade Organization’s (WTO) treaty.

Voicing concern, Perera highlighted that other nations may use the same pretext to justify retaliatory tariff hikes, placing the tit-for-tat hikes beyond the usual WTO dispute resolution protocols.

Nonetheless, the US economy gains more from relatively open global trade, which is why President Trump’s tariff hikes are not broadly supported by the American establishment and not even by most leaders of the President’s Republican party.

This means an all-out trade war is not likely. However it cannot entirely be ruled out. Singapore businesses need to hedge their risks by establishing subsidiaries within large economic areas such as the European Union (EU) and the North American Free Trade Agreement (NAFTA), to maintain a point of domestic supply in these vast economic regions in case global trade relations deteriorate.

https://www.spireresearch.com/newsroom/media/trade-war-looms-after-u-s-s-tariff-announcement/

Comments

Asian consumers embrace local brands

With growing regional integration and rising incomes, more Asian consumers are choosing Asian brands against foreign brands. Xiaomi, an Asian brand, outsold Apple in China in 2014 for the first time. Brunei based brand – Brunei Halal – recently opened stores in Malaysia targeting its Muslim population. The Indian government’s knowledge website initiative – known as Vikaspedia and offering content in 22 different local languages – is gaining ground. Taobao, Air Asia, Alipay, Huawei, Siam Cement, San Miguel, Tiger Beer and Indofood are other Asian brands that are on the march. They all hail from countries other than Japan, Korea and Taiwan, the traditional sources of Asian brands. Will more Asian brands take the leap to become global brands as the top Japanese and Korean brands have become? https://www.spireresearch.com/newsroom/spirethoughts/asian-consumers-embrace-local-brands/

India ranks among the world’s top compact SUV markets!

India overtook Japan in 2017 as the third largest manufacturer of compact SUVs. Big players such as Renault, Mahindra & Mahindra, Ford Motor, Hyundai Motor, Maruti Suzuki and other SUV manufacturers sold 457,698 compact SUVs in 2017 – over four times the unit sales in 2015, at 107,634. While 2016 saw shrinking sales for this vehicle category in China and the USA, sales in India grew nearly 50% from 307,365 units in 2016. Will India overtake China as the world’s largest compact SUV market? For more information, click here.

Spire Client Entertainment Night April 2016

Spire Singapore hosted its first Client Entertainment Night of the year. Our business associates and partners joined us for a dinner reception followed by the movie screening of “Batman vs Superman: Dawn of Justice” – the epic showdown of superheroes. The event was held at Cathay Cineleisure Orchard. It was an opportunity for everyone to let their hair down and take a break from the office. With nearly two years gone since Superman’s battle with Zod – which left the city of Metropolis in ruins, leaving Batman helpless among many – Batman decides to avenge the threat to humanity while Lex Luthor conspires to launch his own vendetta against Superman. The highly anticipated action flick, the good food and even better company made for a great evening enjoyed by all. https://www.spireresearch.com/newsroom/events/spire-client-entertainment-night-april-2016/

Spire joins AmCham Corporate Community Day for seventh consecutive year

Spire Singapore collaborated with the Singapore Children’s Society for the fourth consecutive year, in support of AmCham Singapore’s Corporate Community Day (CCD) 2014. This is the seventh year in which Spire has been participating in the CCD program, which aims to promote corporate volunteerism. Spire Singapore took beneficiaries of the Singapore Children’s Society to a pizza making session. The children were thrilled by their new-found ability to make their own edible creations. They enjoyed the morning while at the same time picking up a useful and confidence-building skill, not to mention many fun facts about the history of pizza. We were honored by the visit of Deputy Chief of Mission at the US Embassy Blair Hall, who joined us with his wife Valerie. Valerie joined in the pizza making session. Blair and his team interacted with the beneficiaries as well as the staff and volunteers of Spire Singapore and the Singapore Children’s Society. The enthusiasm did not di...

Chocolate scent to increase book sales

Retailers might just use chocolate scent to induce shoppers to linger on in their bookstores to boost sales. Researchers in Belgium discovered that potential customers are more likely to end up with purchases if the store is filled with the scent of chocolate. Such pleasant scents can improve the store environment and lead the customers to explore stores more; often resulting in purchases. Marketers could strategize by exploring different scents to lure customers. The scents used should correspond to the products on sale for more impact. For instance, a surf shop can consider having the scent of the salty smell of the sea to provide its customers a whole new shopping experience. Which scent are you most drawn to?

The Knowledge to Decide

Search This Blog