Tariffs Are Messy

With so much focus in the media on how the Trump tariffs can be expected to affect the US economy, Melissa today discusses how they’ll likely affect other countries. Surprisingly, China may be less vulnerable than initially assumed, while the US’s two North American neighbors may bear the brunt of the pain. … Also: What if the tariffs trigger a global recession? The US might outperform the rest of the world’s economies in that case; it’s better positioned to do so for several reasons. … And: Joe’s data on analysts’ estimate revisions for S&P 500 companies in aggregate suggest investors will be treated to better-than-expected Q1 earnings, possibly representing double-digit y/y growth.