Investor hope that tariffs will resolve quickly might be misplaced. While 70 nations have approached the White House to negotiate, there’s no guarantee deals will happen. Many billionaires are pushing back against Trump’s tariffs, warning they could trigger stagflation—higher inflation with slowing growth. As a result, the Federal Reserve may have to cut interest rates two or three times this year to help protect jobs. The situation is messy, and while some positives may come, Trump isn’t likely to secure total wins or total losses.
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