03/10/25 Afternoon CommStock Report – The Turtle Strategy – Tariffs Galore

My turtle will stick his head out of his shell to see if everything is all clear and his eyes will immediately fix on the acrimonious exchanges of tariffs. That will cause him to pull it back in and squeeze his eyes shut hoping to avoid contact. President Trump has called himself “Tariff Man” suggesting tariffs are the salvation of the US economy and means to retain his perception of American greatness. So far, his tariff declarations have been on-off-pause-on again-paused again and so on. That scrambled who-knows- what is coming next uncertainty may be worse than just setting firm on a policy as at least business could adjust to a known set of rules. This uncertainty harms US businesses and damages US consumer confidence. This will be more than just a little disruption. It is the path to a recession.   Those upon which tariffs have been imposed are responding in different ways. Canada is insulted by being reduced to a junior partner in our North American alliance. They believe that they have stood with the US through thick and thin for a century and this is what they get for it. Whatever argument they make for fair treatment…