In the past a lot of the restrictions were focusing on Made in China, and increasingly it is focused on Made by China
Tariffs are actually — we've had a lot of experience with them — they're an act of war, to some degree,
The market really wants certainty and it will adjust to whatever they are,
The fentanyl issue is a flimsy excuse to raise U.S. tariffs on Chinese imports. China has made clear its opposition more than once,
There is a strong view that a lot of things around taxes and regulation will go in the right direction, but in the interim, those negotiations can be controversial and complex,
All the deals got held off in January and February,
The prospects of higher tariffs and escalating tensions between the U.S. and its trading partners are the top concerns for many U.S. corporate borrowers we rate,
We would be super aggressive on that deal if there wasn't so much uncertainty around tariffs,
Market uncertainty surrounding tariffs, inflation, interest rates and government policies ... have led to a disappointing start of the year in investment banking,
We can't take that risk right now,
If Lutnick's comments about giving relief on tariffs for Canada/Mexico holds, it would ease some of our concerns,
We are at an inflection point,
It will disproportionately affect the less fortunate economically,
I won't sugar coat it. This is going to be tough,
If the tariffs are sustained indefinitely, it would almost wipe out two years' worth of economic growth,
And that'll cascade down in the supply chain. So some will be able to survive a little longer than others, but 25% across the board is in the realm of being catastrophic for the auto industry as a whole,