Our thoughts on tariffs may be different than the general concensus

We were interviewed by International Policy Digest and Tobis Fellow writer Scott Douglas Jacobsen, founder of In-Sight Publishing and Editor-in-Chief of In-Sight: Independent Interview-Based Journal.

Fundamentally, tariffs are about business and people!

“In this discussion, Schulman explores tariffs as both a strategic tool and a double-edged sword—capable of fostering domestic self-sufficiency while potentially stifling competition and innovation over time.

“Citing China’s response to AI chip restrictions, he underscores how tariffs can shape trade negotiations and economic strategy. He also highlights the market’s ability to adapt within one to four quarters, advising investors to position themselves either long or short in specific sectors based on risk tolerance.

“Ultimately, Schulman situates tariffs within the broader framework of economic policy, trade balances, and global market stability—where every action risks provoking an equal and opposite reaction on the world stage.”

QUOTED EXCERPTS
“The reality is that even with the promise of reciprocal tariffs being enacted, they probably won’t affect the prices of goods already in the U.S.—in stores and inventory—so the retail and commercial price adjustments may still be a month or several months away.

“We advise our clients to remember that tariffs typically represent a one-time adjustment to pricing and are only one of many factors influencing corporate economics, employment, stocks, and asset prices.

“While common rhetoric suggests tariffs are inflationary, technically they are import taxes paid by the purchaser, and like other taxes, tend to be deflationary rather than inflationary.”

~~
Running Point, “we are your family office”™️
PPLI and PPVA managed separate accounts,
UHNWI, wealth management, estate planning, investing, taxes, economy

Knowledge is silver. Outlook is gold. IQ is a lead weight.

Alan Kay, American computer scientist

Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Past performance is not indicative of future results. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-25-49