Nancy Tengler’s Critique of Trump’s Tariffs: A Botched Policy Rollout
During an interview on Bloomberg Technology, Nancy Tengler, the CEO and CIO of Laffer Tengler Investments, expressed her concerns over President Donald Trump’s tariffs. According to Tengler, she has never witnessed such a poorly executed policy rollout in her career.
Impact on Equities: What Tengler is Buying Amid Market Weakness
Caroline Hyde and Ed Ludlow of Bloomberg Technology inquired about Tengler’s investment strategy amid market weakness. She revealed that she is focusing on companies with strong balance sheets and competitive advantages. Specifically, she mentioned the following sectors:
- Healthcare: Tengler is bullish on healthcare due to the sector’s defensive nature and the ongoing aging population.
- Technology: She is drawn to technology companies that can continue to innovate and grow despite the economic uncertainty.
- Consumer Staples: Tengler is attracted to consumer staples companies that can weather economic downturns and maintain their market share.
Personal Impact: How Trump’s Tariffs Will Affect Individuals
The tariffs imposed by the Trump administration have led to increased costs for various industries, which ultimately affects consumers. According to a report by the Trade Partnership Worldwide, the tariffs could result in a net loss of approximately 400,000 jobs in the United States by 2020. Additionally, higher costs for businesses could lead to price increases for consumers, making everyday goods more expensive.
Global Impact: How Trump’s Tariffs Will Affect the World
The tariffs have not only affected the United States but also other countries. China, the European Union, and other countries have retaliated with their own tariffs on American goods. This trade war has resulted in decreased global trade, negatively affecting industries such as agriculture and manufacturing. The International Monetary Fund has estimated that the tariffs could reduce global growth by 0.5% in 2019 and 0.3% in 2020.
Conclusion
Nancy Tengler’s criticism of Trump’s tariffs highlights the potential negative consequences of the policy rollout for both the United States and the global economy. Individuals may face increased costs for goods and potential job losses, while industries such as agriculture and manufacturing could suffer from decreased global trade. Tengler’s investment strategy, focused on companies with strong balance sheets and competitive advantages, may provide some protection against the economic uncertainty caused by the tariffs.
