{"id":7672,"date":"2025-12-29T05:38:52","date_gmt":"2025-12-29T05:38:52","guid":{"rendered":"https:\/\/microvibenews.com\/?p=7672"},"modified":"2025-12-29T05:38:52","modified_gmt":"2025-12-29T05:38:52","slug":"bank-of-americas-moynihan-sees-trumps-tariffs-starting-to-de-escalate","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=7672","title":{"rendered":"Bank of America\u2019s Moynihan sees Trump\u2019s tariffs starting to de-escalate"},"content":{"rendered":"

<\/p>\n

Bank of America Corp. Chief Executive Officer Brian Moynihan said he expects the Trump administration to de-escalate trade tensions next year after tariffs sent shockwaves through the US economy in 2025.<\/p>\n

Moynihan said in an interview taped earlier in December and aired Sunday on CBS News\u2019 Face the Nation<\/em> that Bank of America now sees \u201cde-escalation, not escalation,\u201d with an average of 15% tariffs, and higher rates for countries that won\u2019t commit to U.S. purchases or lowering non-tariff barriers. <\/p>\n

\u201cTo go from a 10% across-the-board to 15% for the broad base of countries \u2014 not a huge impact,\u201d Moynihan said. \u201cAnd that\u2019s where our team says it\u2019s starting to de-escalate.\u201d<\/p>\n

In April, Trump announced a baseline rate of 10% tariffs on all exporters to the US. He unveiled a slew of new tariffs in July that were expected to push the average rate to 15.2% for major trading partners if implemented as announced. Bloomberg Economics estimated the average US tariff rate rose to 14% from 2% after Trump returned to the White House.<\/p>\n

China is a \u201cdifferent question,\u201d as are North American trading partners with a review of the US-Mexico-Canada agreement slated for next year, Moynihan added. \u201cBut broadly in the world, you can see sort of the endpoint here,\u201d he said.<\/p>\n

Higher tariffs and uncertainty over trade policy hit small businesses in the second quarter of the year, he said, though some relief came as rates eased. Moynihan said tariffs are a lesser concern for small businesses right now than uncertainties over the availability of labor, as some Trump administration immigration policies \u201chaven\u2019t settled in yet.\u201d<\/p>\n

This story was originally featured on Fortune.com<\/p>\n

#Bank #Americas #Moynihan #sees #Trumps #tariffs #starting #deescalate<\/p>\n","protected":false},"excerpt":{"rendered":"

Bank of America Corp. Chief Ex… <\/p>\n","protected":false},"author":1,"featured_media":7673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[2046,200,6346,486,5371,564,156,490,491,496],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/7672"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7672"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/7672\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/7673"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}