Among the most vulnerable and inviting targets in any trade war are commodities—the energy, metal, and foodstuffs on which the world depends. Tariffs on these necessities discourage consumption, inhibit growth, and may well add to the challenges facing the global economy at a time when it must grow faster to escape the burden of debt. We assess the likely duration of the looming trade war, its potential consequences for global economies, and its implications for commodity investors.

Featured Speaker

Terence P. Brennan Director, Portfolio Manager/Analyst Lazard Asset Management LLC (New York)

Terence P. Brennan is a Portfolio Manager/Analyst on the Commodities team. He began working in the investment field in 1990. Prior to joining Lazard in 2016, Terry was Lead Portfolio Manager of the Deutsche Asset Management Global Commodity Strategy. Previously he was an Emerging Markets Analyst for Zurich Scudder and Merrill Lynch Asset Management. Terry has a BA in German from Fordham University.