From a macro perspective the tariff policy outcome is far more important than the nuances of the big beautiful bill.
Even with the China "deal" a couple weeks ago rates are still quite elevated, with the question ahead of whether further relief comes or we revert back. pic.twitter.com/96CKCNBmFm
— Bob Elliott (@BobEUnlimited) May 22, 2025
While China is a key lynchpin driving the broader economic impacts, the reality is that all the negotiated deals with other major trade partners also matter a lot along with the possibility of various sectoral tariffs. pic.twitter.com/LZEK9Dm4od
— Bob Elliott (@BobEUnlimited) May 22, 2025
On Sunday @SecScottBessent outlined a framework that suggested those countries not negotiating in good faith may see their tariffs rise back to Liberation Day levels.https://t.co/YAaix7p16O
— Bob Elliott (@BobEUnlimited) May 22, 2025
Further earlier this week Trump outlined a continued desire to push sectoral tariffs. And suggested net higher tariffs ahead relative to liberation day. Elevated duties on many of these could have substantial knock on impacts across the economy.https://t.co/qphcla3wfo
— Bob Elliott (@BobEUnlimited) May 22, 2025