5 outstanding issues as President Trump threatens the world with tariffs 😬
Are market participants underpricing the consequences? 🤔
On Saturday, President Trump announced tariffs on imports from Canada, Mexico, and China.
The market reaction was unambiguously negative on the news. The S&P 500 fell around 0.8% on Monday, though it clawed back from steeper losses after Trump said he would pause the tariffs on Mexico for one month.
There’s already speculation among some experts that any tariffs would be short-lived. Not everyone agrees.
Regardless, the scale of this recent escalation has many recalibrating their assumptions about this presidency.
"Even if tariffs are called off tomorrow, the increase in policy uncertainty will be hard to put back in the bottle," JPMorgan’s Michael Feroli wrote on Sunday.
Below are five issues investors should consider as we assess the fallout of tariff policy. I won’t have every last answer for you. My goal is that these points help investors make sense of the incoming tariff-related news.
