Mine did this for me. Just about everything down. Mexico, Europe, South Korea (although there may be more at work than tariffs there).
I’ve been thinking about this for some time. So my question is … if you think tariffs are simply a technique/playbook for creating negotiating leverage for the current president for whatever reason (maybe it is reducing fentanyl and immigration…who knows ..threatening tariffs on Denmark for Greenland seems to be a thing) then maybe these threats either go away or get resolved in a few months/quarters after whatever goal is achieved….and thus is this really the time (or maybe in the near future when sentiment really gets bad) to double down?
If the tariffs get implemented and are “long lived” then my losses are just that. Probably not worth doubling down and hoping for long term reversals.
Playing out the “long lived” theme … inside the US borders I expect that materials will get more expensive (following the earlier logic presented by several other posters). US materials suppliers margins would increase but will their volumes hold up?
And then, whether industrial manufacturers can pass that along or they just have to eat all/some of their input cost increases….
How this plays out in the (larger) service sector and in conjunction with the deportation policies/activities isn’t quite as obvious to me.
Then there are the “unintended” consequences of retaliatory actions … although not every country will be willing/able to retaliate. History shows us that agriculture is vulnerable and may even get some kind of double whammy from retaliatory tariffs and a potential labor crunch (but hey if China isn’t buying soybeans why contract the labor to pick them … oversimplified thinking I know). Are there other ways/industries to retaliate against and would the objective be?
Interesting times.