Will the delay of some tariffs help the consumers?
Michael Reynolds, investment strategy officer at Glenmede, sat down with TheStreet to talk about the strength of the consumer.
When asked whether or not the delay of tariffs on major items such as tech items would help consumers withstand a trade war that could escalate, Reynolds responded:
"So I think we saw in the Q2 GDP report, that the consumers driving forward this economic expansion at this point, helping to withstand some of the weakness we've seen in the manufacturing economy. And we see the retail sales report this week or today actually, that, you know, we're beating expectations on that front. And, if we look at the structure of tariffs so far, instead of everything going into place on September 1st, the Trump administration is now announced that some of these bigger ticket items are actually going to face tariffs later this year," he said.
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Editor's Note: This video has been updated to reflect Glenmede's name.