The Treasury Update Podcast Talking Tariffs: Current Status and Investment Impacts (Federated Hermes)
Sep 29, 2025
In this discussion, Damian McIntyre, a seasoned portfolio manager at Federated Investors, and John Mosko, leader of liquidity sales, dive into the current landscape of U.S. tariffs and their repercussions. They explore court rulings and the geopolitical dynamics involving India and China. The conversation delves into the inflationary impacts of tariffs and how corporations are adjusting their strategies, along with practical advice for treasury management. Listeners gain insights on navigating investment decisions amidst evolving economic signals.
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Court Fight Will Decide Tariff Authority
- A federal appeals court ruled the administration likely lacked authority under the IEPA but stayed collection of existing tariffs.
- The ruling means tariffs will be litigated further and likely reach the Supreme Court within months.
Geopolitics Amplify Tariff Moves
- Geopolitical ties between India, China and Russia have amplified tariff focus and political rhetoric.
- The administration has already raised tariffs on India using IEPA, raising uncertainty about permanence.
Tariffs Presented As Revenue Source
- The administration frames tariffs as a revenue source to help pay for major legislation, citing numbers like $400 billion per year.
- But even high tariff rates affect only portions of imports and face carve-outs and economic limits.