Looming tariff deadlines are unlikely to rattle markets. Art Hogan, Chief Market Strategist B Riley Wealth Management joined TheStreet to explain why investors aren’t flinching just yet.
Transcript:
CAROLINE WOODS: So with that July 9th deadline approaching, also, there’s the August deadline approaching, how do you expect markets to react, especially if we don’t actually get any clear answers? If we kind of kick the bucket down the road?
ART HOGAN: Yeah I get the sense that both of those self-imposed deadlines likely don’t matter necessarily. So I think the consensus view is that a lot of the rest of the world is going to look like the trade agreement that was put together with the UK, basically 10% reciprocal tariffs. We’re going to have some carve outs around the edges for different sectors like they did with automobiles, the slightly higher on steel and aluminum. And if that’s the template that we just assume is going to happen with the rest of the world, then likely will be the case if there’s some slippage past the July 9th self-imposed deadline. I think that’s probably OK. The same is likely true for this big beautiful bill. If it doesn’t get to the president’s desk by July 4th, that’s likely. OK they’ve got till the middle of August, to your point, to raise the debt ceiling. So we don’t have to close the government down. And you and I know we see this all the time, and it’s, you know, we tend to wait till the 11th hour to get something accomplished, but it feels as though the momentum is strong enough to get this across the goal line before we get to any important deadlines there. So I don’t know that those are necessarily going to be the bumps in the road we feel in July. I think it’s going to be to your earlier questions about when do we start actually feeling that data show up.
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