Market Insights

The federal government shut down has entered its third day, continuing its disruption, uncertainty, and the all-too-familiar (and maddening) cycle of political gridlock and brinkmanship.

However, this is not a government shutdown story.

A timeline of the current administration’s trade and tariff policy in 2025 is extensive with many daily and weekly changes and updates. Heading into this past weekend, the total tariffs on China were 145%, including the 20% fentanyl tariffs. Additionally, prior to this announcement, China increased its tariffs on American goods to 84%, a retaliatory response to the U.S. The 90-day pause in tariffs marks a significant shift in U.S.-China trade relations, especially considering that just last month, on April 12th, many, including the Washington Post, feared a full economic break between the two countries. At that time, fears of escalating tariffs and retaliatory measures

If my kids were old enough to read this newsletter, they’d say “Mom, all you do is lecture people, including us.” Good thing for me, they aren’t there yet. But alas, I hope you wouldn’t agree with their presumed sentiment. The reality is that as advisors to our many, many cherished clients over decades, we believe we pick up on themes to which individuals wouldn’t otherwise be privy.