Latest news with #ANNEXWEALTHMANAGEMENT
Mint
01-08-2025
- Business
- Mint
Investors react to Trumps new reciprocal tariffs announcement
SINGORE, - President Donald Trump signed an executive order on Thursday imposing reciprocal tariffs ranging from 10% to 41% on U.S. imports from dozens of countries and foreign locations. Rates were set at 25% for India's U.S.-bound exports, 20% for Taiwan's and 30% for South Africa's. Trump also signed an executive order on Thursday increasing tariffs on Canadian goods to 35% from 25%, the White House said. TONY SYCAMORE, MARKET ANALYST, IG, SYDNEY: "At this point, the reaction in markets has been modest, and I think part of the reason for that is the recent trade deals with the EU, Japan, and South Korea have certainly helped to cushion the impact, as has Mexico being granted a 90-day reprieve. And Trump said that trade talks with China are doing reasonably well there. "So on top of all of that, you have the TACO trade type situation whereby, after being obviously caught on the wrong foot in April, the market now, I think, has probably taken the view that these trade tariff levels can be renegotiated, can be walked lower over the course of time." BRIAN JACOBSEN, CHIEF ECONOMIST, ANNEX WEALTH MANAGEMENT, MENOMONEE FALLS, WISCONSIN : "Just because we now have clarity on the tariffs, that doesn't mean we have certainty about their effects. "There are those who think that tariff-induced consumer price inflation will slowly build as businesses work down inventories and test how strong their pricing power is. Others think the tariff-induced inflation will peak earlier, showing up mostly in crimped profit margins and resulting in slower growth. "However, what tariffs take with one hand, maybe tax incentives to invest and more open foreign markets can give with the other hand." This article was generated from an automated news agency feed without modifications to text.
Reuters
02-04-2025
- Business
- Reuters
Wall Street reacts to Trump's reciprocal tariffs
April 2 (Reuters) - President Donald Trump said on Wednesday he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners, a move that could escalate a trade war and upend the global economy. Trading partners are expected to respond with countermeasures that could lead to dramatically higher prices for everything from bicycles to wine. SETH GOLDSTEIN, MORNINGSTAR ANALYST ON U.S. CHEMICALS "I see lower volumes as a result of tariffs. The tariffs will likely be passed along to raise price of end-market products to consumers. In turn, I expect we see consumers buy fewer goods." "Due to the high fixed-cost nature of chemicals production, lower volumes would have an outsized impact on profits, so we could see another year of declining profits if widespread tariffs are implemented. However, many chemical producers make their products in the U.S. to be sold domestically, so we see less of a direct impact." BRIAN JACOBSEN, CHIEF ECONOMIST AT ANNEX WEALTH MANAGEMENT "It could have been worse. The framing of tariffs as being reciprocal can hopefully prompt officials to negotiate quickly instead of retaliate." "There's still a cost to pay and that cost is either higher consumer prices or lower profits. Neither is a great deal for investors. The market reaction makes sense as it's now a matter of how long these tariffs stay in place." DAVID FRENCH, EXECUTIVE VP OF GOVERNMENT RELATIONS AT NATIONAL RETAIL FEDERATION "More tariffs equal more anxiety and uncertainty for American businesses and consumers. Tariffs are a tax paid by the U.S. importer that will be passed along to the end consumer. Tariffs will not be paid by foreign countries or suppliers. We encourage President Trump to hold trading partners accountable and restore fairness for American businesses without creating economic uncertainty and higher prices for American families." ART WHEATON, DIRECTOR OF LABOR STUDIES, ILR SCHOOL, CORNELL UNIVERSITY "It will take years and billions of dollars to bring manufacturing jobs from new plants online, whereas expansions at existing factories could happen much sooner. However, companies prioritize stability - frequent policy changes can delay investment decisions as businesses wait for clearer, long-term signals before committing capital." MICHAEL ASHLEY SCHULMAN, PARTNER AND CIO AT RUNNING POINT CAPITAL ADVISORS "Possibly, Trump in addition to bringing back manufacturing to the U.S. and leveraging our advanced robotics within our shores for that manufacturing renaissance, may also be trying to truly muck up the Chinese economy and heighten their economic instability. 34% tariffs on Chinese goods could either force many Chinese manufacturers to close, increasing unemployment and social instability in China, and/or force a temporary price level adjustment within the U.S." "For chips, PCs, semiconductors and server manufacturers, these tariffs, if they hold, will be quite disruptive." "Investors, analysts, politicians, and the market will be on bated breath to see what is now negotiated between countries following this 'Liberation Day' volley from the administration. Hopefully, today's announcement is a worst case scenario, and any negotiations create improvements from here."
Yahoo
02-04-2025
- Business
- Yahoo
Wall Street reacts to Trump's reciprocal tariffs
(Reuters) - President Donald Trump said on Wednesday he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners, a move that could escalate a trade war and upend the global economy. Trading partners are expected to respond with countermeasures that could lead to dramatically higher prices for everything from bicycles to wine. SETH GOLDSTEIN, MORNINGSTAR ANALYST ON U.S. CHEMICALS "I see lower volumes as a result of tariffs. The tariffs will likely be passed along to raise price of end-market products to consumers. In turn, I expect we see consumers buy fewer goods." "Due to the high fixed-cost nature of chemicals production, lower volumes would have an outsized impact on profits, so we could see another year of declining profits if widespread tariffs are implemented. However, many chemical producers make their products in the U.S. to be sold domestically, so we see less of a direct impact." BRIAN JACOBSEN, CHIEF ECONOMIST AT ANNEX WEALTH MANAGEMENT "It could have been worse. The framing of tariffs as being reciprocal can hopefully prompt officials to negotiate quickly instead of retaliate." "There's still a cost to pay and that cost is either higher consumer prices or lower profits. Neither is a great deal for investors. The market reaction makes sense as it's now a matter of how long these tariffs stay in place." DAVID FRENCH, EXECUTIVE VP OF GOVERNMENT RELATIONS AT NATIONAL RETAIL FEDERATION "More tariffs equal more anxiety and uncertainty for American businesses and consumers. Tariffs are a tax paid by the U.S. importer that will be passed along to the end consumer. Tariffs will not be paid by foreign countries or suppliers. We encourage President Trump to hold trading partners accountable and restore fairness for American businesses without creating economic uncertainty and higher prices for American families." ART WHEATON, DIRECTOR OF LABOR STUDIES, ILR SCHOOL, CORNELL UNIVERSITY "It will take years and billions of dollars to bring manufacturing jobs from new plants online, whereas expansions at existing factories could happen much sooner. However, companies prioritize stability - frequent policy changes can delay investment decisions as businesses wait for clearer, long-term signals before committing capital." MICHAEL ASHLEY SCHULMAN, PARTNER AND CIO AT RUNNING POINT CAPITAL ADVISORS "Possibly, Trump in addition to bringing back manufacturing to the U.S. and leveraging our advanced robotics within our shores for that manufacturing renaissance, may also be trying to truly muck up the Chinese economy and heighten their economic instability. 34% tariffs on Chinese goods could either force many Chinese manufacturers to close, increasing unemployment and social instability in China, and/or force a temporary price level adjustment within the U.S." "For chips, PCs, semiconductors and server manufacturers, these tariffs, if they hold, will be quite disruptive." "Investors, analysts, politicians, and the market will be on bated breath to see what is now negotiated between countries following this 'Liberation Day' volley from the administration. Hopefully, today's announcement is a worst case scenario, and any negotiations create improvements from here." Sign in to access your portfolio
