From 2018: The Coming Economic War With China

Alan Brazil

SOM Macro Strategies
April 13, 2025

I published this SOM in September 2018 after the first round of Trump tariffs on China. It provides key insights into the motivation for the current round of tariffs, which the market may have forgotten.
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SOM CHINA ECONOMIC WAR
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SOM Macro Strategies

SOM Macro Strategies was founded by former Goldman Sachs strategist Alan Brazil after leaving the firm to independently publish his State Of the Market (SOM) reports. The SOM reports reflect the results of fundamental economic analysis of macro themes that are likely to reprice across asset types and markets. This framework helps to identify strategies that provide investors with asymmetric returns with high expected Sharpe ratios.