00:00 Speaker A
So I think the market is gonna have a lot to digest, and they’re going to see just how forward-looking and long-term these tariffs are, which is not currently priced in.
00:08 Speaker B
This is something that Trump has talked about for many, many years, about something that he legitimately believes in. Do I think he really wants to tank the economy? No. So it’ll probably end up somewhere in between, and that’s how we’ll end up in this sort of 70-80 basis point headwind, which is kind of similar to the negotiation that we started with China last time, is they ended up doing tariffs on roughly half of the goods.
00:32 Speaker C
I think it should take some pressure off the market. I think the biggest concerns in the markets have been not only tariffs, but the uncertainty. Does the economy slow? Do companies cut back on hiring, things like that? So I think if we get some clarity on the tariff picture, the market sees that as a positive sign, and I think we do move higher from there.
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