Trade War Interrupts Bull Market Party

President Trump’s renewed interest in raising tariffs on Chinese imports from 10% to 25% has set off a round of retaliation from China who will strike with its own tariff hikes on U.S. imports. It now appears that a negotiated deal acceptable to both parties is unlikely to be reached in the near term. What are the implications for investors of a prolonged trade war with China, and by extension, with other countries that rely on trade with the United States?