Tariffs Aren’t Going Away | PIMCO’s Policy Head Libby Cantrill on Trade and Tax Environment In New U.S. Administration

Libby Cantrill, Managing Director and Head of Public Policy at PIMCO, joins Monetary Matters to explain her outlook on U.S. trade and tax policy. Cantrill argues that while Trump administration has flexibility in tariff negotiations and that the China tariffs are likely headed much lower (a prediction that already looks like it will come true), tariffs are not going away anytime soon and she views the 10% tariffs on the world as a floor, with reciprocal tariffs on top of that floor especially on China being elevated. Cantrill also shares her views on sectoral tariffs, the rumored “Mar-a-Lago Accord” (she doesn’t think it has traction), and tax cuts. Recorded the afternoon of April 22, 2025.

Follow Libby Cantrill on LinkedIn https://www.linkedin.com/in/libby-cantrill-cfa-17162513b/

Most recent piece, “Overall U.S. Tariff Level Still High Despite Exemptions”:

https://www.pimco.com/us/en/insights/overall-us-tariff-level-still-high-despite-exemptions

Cantrill’s profile on PIMCO: https://www.pimco.com/us/en/experts/libby-cantrill

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