Corporate concerns about trade policy appear to be waning during the Q4 earnings call season. Panjiva’s analysis of over 1,900 calls since Jan 1. shows 20.8% include mentions of the U.S.-China trade war or Brexit, down from 25.4% the prior quarter. That’s still significant though given 22.3% of firms have mentioned coronavirus since Jan. 20. The phase 1 U.S.-China trade deal and a drama-free Brexit are likely reasons for the reduction in trade policy mentions. Yet, both leave significant uncertainties going forward. One example is that the phase 1 trade deal leaves most U.S. import tarif...