
Missoula Financial Advisor Breaks Down Effects of Trump’s Tariffs
Missoula, MT (KGVO-AM News) - The financial markets went into a tailspin on Monday after President Trump announced tariffs to be imposed on imports from China, Canada and Mexico.
Bob Seidenschwarz, a financial advisor with S.G. Long, who appears often on the KGVO Talk Back show, provided some insight into the tariffs and how they might affect Montana investors.
Financial Advisor Bob Seidenschwarz on Trump Tariffs
“I was having a breakfast with a couple of folks from England today, and they were saying, here you guys are going to be putting tariffs on Great Britain and the EU so, you know, in many respects, it's the same conversation we've had for years,” began Seidenschwarz. “Markets don't like uncertainty, and this is a situation of which there's potentially massive uncertainty associated with the tariffs.”
Seidenschwarz had more to say about the tariffs.
“Markets are not going to stop and go boom,” he said. “Let me pause. They're going to react, and typically they overreact, and that's part of the equation. Now, the question for me that I am looking at, as far as my clients is how long does something like this last to be very blunt about it, I don't know, and even the best of us don't know. This is putting us into a little bit of uncharted waters right now.”
Seidenschwarz said Regular Consumers are Concerned About Their Investments
He said regular customers were deeply concerned about how the tariffs would affect their investments.
“People get worried when there seem to be large events that are unfolding, and it's really about uncertainty,” he said. “Am I going to lose my investment? I've had nice gains. Should I get out and try to protect what I've made? And each situation, as we've said so often, is very different and unique to every individual, but generally speaking, this is not the time to be panicking.”
He said the effects of the tariffs could easily lead to inflation for the average American.
President Trump Paused Some of the Tariffs on Mexico
“The potential for this to be inflationary and for the cost of goods and services to go up, you don't need a degree in economics to figure this one out,” he said. “The people who are going to make money off of this are exactly the people that are surrounding somebody of his (Trump’s) background and net worth and business relationships. So I don't think it's a far stretch to say that he has had ongoing discussions behind the scenes, and we've gotten a little bit of an inkling of this, of certain groups of tech giants and various other businesses that knew this was coming. It's the little guy that's going to take the brunt to this, would be, my humble opinion.”
According to ABC News, later on Monday, the President paused some the tariffs on Mexico, causing markets to regain some of their losses. Click here for details on that story.
Seidenschwarz appears frequently on KGVO on Talk Back in his capacity with the Montana World Affairs Council.
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