UBS analysed 450 million words to find the companies most worried about Trump's trade war

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• UBS analysed hundreds of thousands of earnings calls to understand which companies are most impacted by US President Donald Trump's trade war.
• UBS found that words like trade, tariffs, and trade war have been used more often in the last year than at any other point since 2010.
• The automotive sector has discussed the trade war most frequently and has seen the biggest impact in terms of share price drops.

When it comes to macroeconomic risks for businesses, Donald Trump's trade war is pretty much the only game in town right now.

Trump's tariffs on goods flowing into the USA from China, the EU, and Canada — and his threats to increase them — are taking up a lot of thinking time for major corporations at the moment.

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See Also:

• It looks like Trump has found the next big target in his trade war — Japan
• Thursday marks probably the most important moment yet in Trump's trade war with China
• GOLDMAN SACHS: Buying these 17 stocks could help you crush the market as Trump's trade war heats up

SEE ALSO: Britain's showdown with the Chinese military in the South China Sea is threatening to derail a post-Brexit trade deal

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