Trade Reality Sets In for Equity Investors, Utilities Seen as Good Bet in February

This adage is worth recalling in February as U.S. President Donald Trump moves forward with replacing multinational trade alliances with a string of bilateral agreements. There are merits to his view and he comes by them honestly, but actions have consequences — especially when success means the world earns less and, if a U.S. trade surplus results, the world becomes a net exporter of income to the U.S. The world is unlikely to appreciate such a turn and will react in the best interests of its domestic politics .