Good morning. President Trump announced on Wednesday a 90-day pause on the “reciprocal” tariffs announced last week. During the time-out, a 10% universal tariff will be in effect. However, tariffs on China would not be paused, rising instead to 125% and escalating the standoff between the world's top two powers. Tariff uncertainty, though, has played a major role in CFO scenario planning.
“I think planning 10 years ago was a lot more certain than planning is today,” Tom Barkin, president and CEO of the Federal Reserve Bank of Richmond, told me following the Economic Club of Washington, D.C.’s event on Wednesday.
