This Trade War Will Have Many Costs That Stack Up Against U.S. Markets

One cost is the tariff itself. Beyond that, there’s the cost of uncertainty, which hurts investment in the U.S. Then there’s the impact on the dollar, which, other things being equal, will rise against peers. And there’s also the hit to company profits across the board. That may be painful even for the giant Magnificent Seven stocks, but could be worse for smaller firms, possibly driving some into bankruptcy, the strategists said.