Quotes
The tariff plan does not appear to be well-thought-out. Trade negotiations are a highly technical discipline, and in our view, these proposals do not offer a serious basis for negotiations with any country,
said James Lucier, founding partner at Capital Alpha
The tariffs give us great power to negotiate. Always have. I used it very well in the first administration, as you saw, but now we're taking it to a whole new level."
Trump then appeared to contradict them, telling reportersThe global economy is fundamentally different today than it was yesterday,
he said as he announced several countermeasures
Tariffs on our longstanding trade partners, many of whom have committed billions in direct investment into U.S. factories, introduces uncertainty and risk into an industry that is creating jobs and bringing new economic opportunities to communities across the country,
Gore said
The scope of this decision and ways to mitigate its impact are being analyzed, including efforts to exclude Panama from its application,
Panama’s government said in a statementIt was another highly successful week for the American people as President Donald J. Trump continues his relentless pursuit of strength, prosperity, and peace — and lays the foundation for America to be the global powerhouse for generations to come,
the White House said in a statementChina played it wrong, they panicked – the one thing they cannot afford to do.
Writing on his Truth Social platform, Mr Trump insisted
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Just to be able to hear it gives you a connection to Robert Burns,
said the violinist Duncan Chisholm, who will play it
Right now, how bad it gets depends on how committed the administration is to this set of policies which, clearly, the market is voting against,
said Steve Sosnick, chief strategist at Interactive Brokers
We're in the Wild West of a trade war right now,
said Mariam Adams, managing director at UBS Wealth ManagementThis is all sparking fear of a global trade war and possible global recession, and that’s what we’re seeing play out here in the markets today,
she said
While the American people are trying to put food on the table, I see that Donald Trump’s out there playing golf.”
Senator Ben Ray Lujan, a Democrat, saidWe face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation,
he told reportersThe EU/US trade relationship needs a fresh approach. The EU’s committed to meaningful negotiations but also prepared to defend our interests. We stay in touch,
he addedTrade must not become another source of instability. It should serve development and global growth,
she saidWe see a lot of uncertainty in the earnings outlook at the moment,
said RBC Capital Markets strategists in a Friday note, in which they cut their 2025 earnings forecast for the S&P 500
The playbook on this is very, very unclear for everybody,
said Jeffrey Palma, head of multi-asset solutions at Cohen & SteersIf you had anything that was even remotely positive right now, you could see a short-term spark because people are braced for the negative outcome,
Lerner saidThe markets could be their own worst enemy,
said Matthew Miskin, co-chief investment strategist at John Hancock Investment ManagementWe've had two really, really big days in terms of sharp market moves,
Palma said