However, the news media has puffed-up its usage. Have they made too much of the steel tariff announcement? Probably, if history is a guide. We will continue to evaluate how tariffs affect you the consumer, business profits, and FED actions; but, we do not see an impact where we need to change your portfolio at this time.
By the way, tariffs were once the chief source of income for the U.S. Government before the passage of the Federal Income Tax legislation in 1913.