Asia’s Super-Rich Rapidly Dial Back US Exposure on Trade War

Some of Asia’s richest families are cutting exposure to US assets, saying President Donald Trump’s tariffs have made the world’s largest economy much less predictable.

One family office managing assets for Chinese billionaires exited its US holdings entirely and will shift the proceeds to Asia. A senior executive at one of Europe’s largest private banks said the scale of the recent selloff from rich clients and institutions around the world is unprecedented over the past three decades and could be the beginning of a more persistent shift. A top bank executive in Asia got rid of 60% of US assets from his own portfolio, saying it’s safer to hold cash and gold.