More On Trump’s Tariffs

Importers are responsible for paying tariff bills, but it’s Jane and Joe Consumer who will carry most of the burden. Importers will try to protect their profit margins by offloading the tariff costs to their export partners and customers when possible; when consumers lack substitution options for imported must-have products, they’ll pay up. … Also: Trump’s tariff tactics should surprise no one; they’re straight out of his book The Art of the Deal. Melissa draws the connections. … And: Joe reports that analysts’ net earnings estimate revisions for S&P 500 companies haven’t been so downwardly slanted for two years. Only two S&P 500 sectors had upward NERIs in April.