Tariffs & Sector Implications_ U.S. Equity Thematic Research. Fri Feb 21 2025
2025-02-25 02:06
North America Equity Research 21 February 2025 J P M O R G A N Tariffs & Sector Implications U.S. Equity Thematic Research Since President Trump took office, trade policy announcements have been rapidly evolving, with significant implications across sectors. Key developments include: (1) Potential 25% tariffs on Canada and Mexico; (2) 10% additional tariffs on China; (3) A 25% tariff on all steel and aluminum imports; (4) Intentions to impose further tariffs on specific sectors, including pharmaceuticals, s ...