It's scary that there seems to be no off ramp. The massive incompetence of the administration is absolutely appalling. Let suppose they decide to keep the tariffs until the actual lagged economic metrics are showing the stress on jobs and companies earnings. That means an absolutely insane amount of goods will go up in price between 10% and 50% in just a couple of weeks (depending how much the company margins are going to be absorbing the hike). The direct impact is probably a proportional amount of suppressed consumption so direct impact on the top line and bottom line of all those firms. This does not even account for all the effects of retaliation which are not yet decided. The markets were trading with lofty multipliers that were including quite a bit of revenue growth assumptions. All that is gone now! Without a quick change of course, the valuations will still have to go down a lot...