Among the key points of Donald Trump’s economic policy – already tested during his first term – there is the return to a Protective approachwith targeted duties on imported goods From countries like China, Mexico, Canada. Not even the European ones are safe. If its line is confirmed and made structural (in fact, for days we have been witnessing a continuous portrait of its intentions), the effects on the economic sectors will be significant, both in terms of risks and opportunities.
As explained in an in -depth analysis of the Morgan Stanley Wealth Managementin fact, there are at least Three strategic sectors who could emerge as winners in the new American tariff scenario.
Utility
Beyond what will be the definitive decision of Donald Trump on the duties, a context of commercial instability and inflationary pressures, the defensive titles become a sort of Safe port for investors.
The utility sector, i.e. companies that provide essential services such as electricity, waterfall And gasis traditionally not very exposed to the fluctuations of global markets. The reason is simple: these companies operate mainly at home, have a constant demand and do not depend significantly on international supply chains.
According to the analysis Morgan Stanley, the Utilities also benefit from the low tariff risk and they can maintain profits even in the presence of generalized bodies on raw materials or intermediate goods. In the case of protectionist escalation, therefore, this sector is likely to overlap compared to the more cyclical sectors linked to international trade.
Healthcare
The health sector is another relatively immune area to tariff risks. Even in times of recession or economic slowdown, the demand for drugs, medical devices And health services remains high. In addition, most large pharmaceutical companies have diversified production chains and ability to absorb cost increases better than other sectors.
In addition, the aging of the population and the increase in public and private health expenditure make the health sector even more strategic for those looking for Stability in wallets. In a context of uncertain economic policies and unexpected commercial wars, healthcare could offer solid and constant returns.
Technology
One of the key points underlined by Morgan Stanley is the potential of technology -oriented services, in particular software And cybersecurity. These segments have a limited exposure abroad, produce intangible assets and offer solutions that are increasingly central to the functioning of any other industry, from finance to manufacture.
The accelerated adoption of artificial intelligence, digitalization and automation further strengthens this trend. In a context in which physical goods become more expensive because of the duties, the software – which does not physically cross boundaries and is not subject to rates – becomes a strategic choice for companies and investors.
Cybersecurity benefits from this situation: with the growing attention to national security, every new protectionist measure ends for increase the question of data protection solutions and digital infrastructures.
And today, these trends speak clearly: immaterial technology, safety And autonomy strategic They will be the key concepts on which to build a wallet that makes the most of Trump’s second mandate.
