A potential peace agreement between Russia and Ukraine could boost agriculture and oil prices, which would be 鈥済ood for the world,鈥� renowned investor and economist Jim Rogers told Anadolu.
Rogers noted that, while both Russia and Ukraine are major agricultural producers, Russia is also a significant oil producer. A potential peace deal between the two would positively impact markets, raising oil and agricultural prices while promoting stabilization.
He stressed that Russian President Vladimir Putin "certainly wants peace because war is expensive," adding that all parties involved would ultimately benefit from peace.鈥淲ar has never been good for anybody 鈥� even for those who think they won, because nobody wins from wars,鈥� he said.
- Tariffs lead to problems
Rogers argued that US President Donald Trump鈥檚 tariffs would have negative implications for both the global and US economies, saying history shows tariffs are 鈥渘ot good for anybody,鈥� but that Trump 鈥渆ither doesn鈥檛 know or doesn鈥檛 care.鈥�
鈥淗e will probably impose more tariffs and it will not be good for America. It will not be good for anybody,鈥� he said. 鈥淭hey raise prices, and higher prices mean higher inflation and less competitiveness.鈥�
Rogers noted that until recent weeks, after Trump took office, the US stock market had been on its longest trouble-free course since 2009.
鈥淲e have never had such a long period of good times before. History would indicate we鈥檙e overdue for a problem,鈥� he highlighted. 鈥淚 certainly can see problems coming.鈥�
鈥淚 see lots of enthusiasm developing in the markets, which is usually a bad sign. I have not started selling short yet, but I have sold nearly all of my stocks everywhere in the world, including the US and China 鈥� I have not sold China or Uzbekistan (stocks but) I鈥檝e sold all other countries鈥�,鈥� he said
- Trump tariffs on 2 neighbors
Trump imposed 25% tariffs on products from Canada and Mexico, effective March 4. He later clarified that these tariffs would not take effect on products covered by the US-Mexico-Canada Agreement until April 2.
Trump鈥檚 tariffs on steel and aluminum imports were enforced on March 12, and Canada retaliated with a 25% tariff plan on imports worth $20.8 billion.
Washington also doubled existing tariffs on China from 10% to 20%.
Reporting by Nuran Erkul in London
Writing by Emir Yildirim
Anadolu Agency
energy@aa.com.tr