SINGAPORE (Aug  20): With all the trade war talk recently, European Commission president Jean-Claude Juncker brought US President Donald Trump a picture of the US cemetery in his native Luxembourg where General George S Patton is buried. It was meant as a reminder of the US’ shared history with Europe. 

Ultimately, the recent trade skirmish dispersed with both sides claiming happy headlines, but the economic relationship remains rocky. Investors should brace for the potential for more caustic exchanges in the months ahead. Even if Trump’s blunt talk helps secure tariff concessions on some US goods, we believe it is likely to complicate more important and more delicate conversations around how to expand markets for services, regulate the flows of data and expand opportunities for investment. 

If you are monitoring progress, watch the transatlantic investment flows. 

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