Susan Tompor Detroit Free Press Published 11:00 p.m. UTC Jul 29, 2018 Could President Donald Trump’s mounting trade war end up as the undoing of your 401(k)? When it comes to tariffs, no matter your politics, the risk of owning stocks clearly has gone up. Growing uncertainties surrounding U.S. trade policies could lead to reduced profits for some companies, higher prices for consumers, job losses and at the worst extreme could bring on the next recession. While tariffs protect weaker domestic industries from foreign competition, economists note that trade barriers in the long run can be harmful to growth and we’re already hearing warnings from automakers and others. The good news: We’re not on the brink yet. Many 401(k) plans aren’t feeling much of a pinch. It’s been a relatively good summer for stocks. The Dow Jones industrial average closed at 24,753.09 points on May 25, the Friday before Memorial Day. The Dow closed at 25,527.07 points on July 26 — an increase of 773.98 points or 3.1 percent. Overall, the Dow was up 3.3 percent for the year through July 26 after recovering from the rocky ride earlier in 2018. But don’t let the latest upswing fool you. “These trade wars can take a very long time to… Read full this story
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