Dow jumps, Nasdaq snaps 6-day win streak as Walmart previews tariff-fueled price hikes
Investors cheered President Trump’s tariff reductions and deals with trading partners China and the UK, but Wall Street points out that the tariff rates are still relatively high.
“The US effective tariff rate remains significantly higher than it was at the start of the year,” Solita Marcelli, chief investment officer Americas for UBS Global Wealth Management, wrote in a client note on Thursday.
Marcelli pointed out the US effective tariff rate — at around 15% — is now six times higher than the 2.5% rate that prevailed in January before President Trump returned to the White House.
That assumes that the rolled-back tariffs during the 90-day pause announced last month can be maintained beyond the deadline.
“As the Trump…
