Why Wall Street isn't panicking about tariff deadlines

The Street

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

00:00We still don't actually know what those tariff rates are going to be.

00:03So with that July 9th deadline approaching, also there's the August deadline approaching,

00:09how do you expect markets to react, especially if we don't actually get any clear answers,

00:14if we kind of kick the bucket down the road?

00:18Yeah, I get the sense that both of those self-imposed deadlines likely don't matter necessarily.

00:23So I think the consensus view is that a lot of the rest of the world

00:28is going to look like the trade agreement that was put together with the UK.

00:32Basically 10% reciprocal tariffs.

00:34We're going to have some carve-outs around the edges for different sectors,

00:37like they did with automobiles, slightly higher on steel and aluminum.

00:41And if that's the template that we just assume is going to happen with the rest of the world,

00:45then likely will be the case.

00:47If there's some slippage past the July 9th self-imposed deadline, I think that's probably okay.

00:52The same is likely true for this big, beautiful bill if it doesn't get to the president's desk by July 4th.

00:57That's likely okay.

00:59They've got to the middle of August, to your point, to raise the debt ceiling

01:02so we don't have to close the government down.

01:04And you and I know we see this all the time.

01:06We tend to wait until the 11th hour to get something accomplished.

01:09But it feels as though the momentum is strong enough to get this across the goal line

01:14before we get to any important deadlines there.

01:16So I don't know that those are necessarily going to be the bumps in the road we feel in July.

01:20I think it's going to be, to your earlier questions,

01:23about when do we start actually feeling that data show up.

01:27So wait for the help I don't

01:40to get back to the game.

01:41He wants to be aware of that...

01:45As a hit standpoint,

01:47we're going to get back to Honey Sm 새ze,

01:49from my time.

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