On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley discussed the details of the Trump administration’s tariff plan and the market’s reaction.

If the current slate of proposed U.S. tariffs is implemented, our model estimates a 60-to-80 bps increase in cost structures across most sectors of the global economy.

2025 is beginning in much the same manner as 2024, with investors focused on whether the Chinese government is going to implement new stimulus measures.

The last three months have seen bursts of excitement that the Chinese government was about to open the floodgates of stimulus, followed by disappointment as follow-on announcements have lacked detail on the actual scale of measures.