This podcast provides an update on the evolving North American trade policy, focusing on recent tariff developments. Michael Zezas, Morgan Stanley's Global Head of Fixed Income Research and Public Policy Strategy, explains President Trump's temporary delay of tariffs on Mexico and Canada, while 10% tariffs on Chinese goods went into effect. He outlines the firm's base-case prediction of slow tariff implementation, expecting tariffs on China and some European products to increase through the year, potentially impacting economic growth. The potential impact on the US dollar and equities is discussed, with different outcomes predicted depending on whether tariffs on Mexico and Canada are reinstated. Listeners gain insight into the current state of trade negotiations and their potential economic consequences.
