The weaponization of global trade through broad-based #tariffs is structurally inflationary.
Current US political rhetoric heavily favors protectionism, targeting everything from Chinese EVs to European steel.
The immediate consequence is margin destruction for domestic retailers and a forced price increase for consumers.
Macro models are severely underestimating the sticky inflation generated by a 10% baseline tariff policy.
Bond yields will remain structurally higher for longer.
Position defensively in domestic manufacturing and avoid consumer discretionary sectors entirely.
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3July 11, 2026 107 1
