The stock market is not waiting for August 1 to make up its mind about the potential impact of tariffs on consumers. Oxford Economics suggests that if President Trump’s threatened additional tariffs become a reality in two weeks, price increases could still take a toll.
However, retail sales data for June indicates that U.S. consumers remain confident and are likely to continue spending despite potential tariff hikes. The S&P 500 finished higher on Thursday, showing that investors are optimistic about consumer spending power.
Despite President Donald Trump’s efforts to pressure trade partners into quickly striking trade agreements through the threat of higher tariffs, Americans appear to be keeping their wallets open for now.
Source: https://www.marketwatch.com/story/the-stock-market-isnt-waiting-around-for-aug-1-to-decide-if-tariffs-will-hurt-consumers-a717ff8f