The Trump administration's tariff policies have escalated tensions between the US and its trading partners, including a 25% levy on imports from Mexico and Canada, and an additional 20% tariff on Chinese goods. Canada and China are issuing their own retaliatory tariffs on US goods.
Raymond James managing director Ed Mills joins Morning Brief host Seana Smith to analyze the potential implications of these developments.
“The concern that people had with President Trump was that was he going to be in a situation where he was crying wolf,” Mills highlights, later adding: "[Trump] needs to follow through and say that he's going to do this, or other leaders are not going to anticipate the other tariffs that he’s also signed into an executive order, which is, come April, reciprocal tariffs, tariffs on autos, in addition to what we're doing with Canada and Mexico, which absolutely does impact autos.”
President Trump is set to deliver his address to a joint session of Congress on Tuesday night.
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Mills further adds that his primary focus is on consumer sentiment, noting that any prolonged tariffs could lead to higher prices: "If they are on for a longer period of time, that's when we have a greater economic pullback."
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This post was written by Josh Lynch