Uncertainty in global trade

Trump's trade policy or punitive tariff regime was not a major issue in the campaign

Last Tuesday, voters in the United States (US) gave a majority in their House of Representatives to the Democrats and a majority in the Senate to the Republicans. On the same day, tougher US sanctions against Iran came into effect, with India getting significant waivers.

In his press conference after the election results, President Trump claimed victory and was rather combative. But, it is clear that no matter what he says, his wings have been clipped somewhat. The days he could carry legislation through a Republican-controlled House and Senate are over and many of his unilateral measures on trade will go