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Charlie Bilello, chief market strategist at Creative Planning, points out that tariffs, which were intended to address the U.S. trade deficit, have not achieved their goal.
Over the last 20 months, the U.S. recorded a goods trade deficit of $2.06 trillion, up from $1.92 trillion in the previous 20 months. The data indicate the deficit increased by 8 percent rather than shrinking.
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Bilello has previously highlighted that the S&P 500 averaged a 12% annual return since 1980 despite frequent intra-year drawdowns. In a separate review, he reported that U.S. producer prices rose 5.4 percent over the last year. His recent observations add to his ongoing analysis of key U.S. economic measures.