2025 Outlooks
Midyear Commodity Outlook: Better for Commodities than Consumers
18-juil.-2025
We expect tariff policy to remain a key part of the narrative pushed by the administration. Although trade deals may be made, we anticipate the effective tariff rate paid by US consumers to end the year significantly higher than just 12 months ago, which should keep inflation elevated and may continue to support the commodity asset class.