【Analyst: The Preliminary Trade Agreement Between the US and the UK is Unlikely to Alleviate the Headwinds for US Stocks】 Golden Finance reports that Jake Schurmeier of Harbor Capital stated that although the US-UK trade agreement brings limited improvements in transparency, the investment outlook for risk assets remains unattractive. Schurmeier estimates that with a 10% tariff becoming the baseline for Trump's trade agreement, the actual tariff rate in the US will quadruple to 12%, thus putting pressure on corporate profit margins. Rising consumer prices may make it difficult for the Federal Reserve to manage inflation expectations and implement interest rate cuts. He said, 'I tend to hold a neutral stance on stocks' because higher import costs 'will significantly slow economic growth, thereby cutting into profit margins.'