Inflection Points: Tariffs In The Wind

2025-10-23 05:54:00 ET

Six months after the White House unveiled a tariff schedule for global trading partners, this seems like a good time to check in on the state of play. The initial announcement on April 2 sent equity markets sharply lower, but a week later, on April 9, markets calmed as the White House put many tariffs on hold to allow for negotiations with major trading partners. ¹ Despite lingering concerns that tariffs would slow international trade and drag the global economy since then, both the S&P 500 and the MSCI World indexes have advanced by more than 20%. ² ...

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