UBS On-Air: Paul Donovan Daily Audio 'Tariffs may not “solve” everything'
Update: 2025-01-23
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Japan’s December trade data had weaker imports and stronger exports than had been expected. Exports to the US declined, which rather argues against pre-trade tax stockpiling in the US (though there may still be time for that). The absence of stockpiling would likely speed the impact of trade taxes on US consumers.
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