Another failed attempt at a trade deal has stalled the implementation of tariffs.

Bad News: Air isn’t being tariffed, leading to higher prices.

Good News: U.S. importers will push for lower prices from exporters, which may help offset a percentage of the tariff rate.

The stated tariff rate and the effective tariff rate are just as ambiguous and hard to define as the U.S. tax rate and effective tax rate.
The numbers coming from Wall Street are primarily hopeful projections.
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