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‘Tariffs are inflationary and can undermine revenue and earnings,’ Wells Fargo’s Paul Christopher says
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The impact of tariffs on Canada and Mexico that took effect on Tuesday is rippling through markets, with exchange-traded funds that target stocks in those two countries initially slumping sharply along with U.S. equities as investors attempt to sort out the ramifications of the new trade policy.
“Big picture, we believe tariffs are inflationary and can undermine revenue and earnings,” Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute, said in a note Tuesday. “We also foresee that importers will make various adjustments that should stretch out and dilute the tariff impacts.”
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Christine Idzelis is a markets reporter at MarketWatch and is based in New York.
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