1239 ET - The market sleep walked into what President Trump's tariffs could be like by thinking they were going to be bargaining tools, says Bhanu Baweja, Chief Strategist at UBS. Overall, the market's fears on tariffs were minimal, as it believed Trump cared about the market, Baweja says. However, this latest round of tariffs seems to be sticky and comes at a challenging time for the U.S. economy. Consumer sentiment was already much lower, and consumer confidence and capital expenditure expectations were already weakening because the U.S. economy was going through a organic slowdown after two years of steroidal growth, Baweja adds. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 07, 2025 12:39 ET (16:39 GMT)
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