President Donald Trump's tariff terrors were revealed Wednesday afternoon, and markets were not enthused. At all. The worse than expected tariff rates are the highest ever. Trade policy is still uncertain, however, as the tariffs are seen as a negotiating tactic, and subject to revision. But this makes it difficult for companies to re-calculate forward looking estimates of earnings. And as the ripple effects of higher expenses are felt in the economy, the risk of recession rises.  Lance takes a break to extol his wife's virtues as a basketball savant; Lance and Michael discuss the likely Fed response to higher tariffs and slower economic growth, review a chart of the VIX (more volatility on the way),  and emphasize the importance of context and perspective before reacting to the tariffs' effects. Markets are not not red or blue; disallow political influences when making investment decisions. Lance and Michael reveal the silver lining behind the tariffs' effects; narratives will drive markets for the next few weeks until fresher economic data is seen. With the imposition of these tariffs, will Trump be emboldened to talk tax cuts?   SEG-1: Trump Tariffs: Worse Than Expected SEG-2: The Risk of Recession Rises SEG-3a: Mrs. Roberts Basketball Savant SEG-3b: What Will Fed's Response to Tariffs Be? SEG-4: The Bad News/Good News About Tariffs Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO, w Portfolio Manager Michael Lebowitz, CFA   Produced by Brent Clanton, Executive Producer ------- Watch today's full show video here: https://www.youtube.com/watch?v=-uAO2xjOt-w&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=2s ------- Articles mentioned in this report: "Trump's Puzzle" https://realinvestmentadvice.com/resources/blog/trumps-puzzle/ "Liberation Day: A Bullish Scenario" https://realinvestmentadvice.com/resources/blog/liberation-day-a-bullish-scenario/ "Sellable Rally Or “Buy The Dip”" https://realinvestmentadvice.com/resources/blog/sellable-rally-or-buy-the-dip/ ------- The latest installment of our new feature, Before the Bell, "EMERGENCY UPDATE: Tariff Terror," is here:  https://www.youtube.com/watch?v=4L7DmJ4JA8M&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Our previous show is here: "Failure At The 200-DMA – Correction Continues" https://www.youtube.com/watch?v=1kkazRwbURU&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=2402s ------- Get more info & commentary:  https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #TradeTensions2025 #MarketVolatility #TariffTalk #GlobalMarkets #EconomicUpdate #TradeTariffs #LiberationDay2025 #USChinaTrade #MarketImpact #EconomicPolicy #TariffTerror #TradeTariffs #LiberationDay2025 #USChinaTrade #MarketImpact #EconomicPolicy #DownsideRisk #Tariffs #LiberationDay #MarketCorrection #StockMarketCorrection #200DMA #TechnicalAnalysis #MarketInsights #InvestSmart #BuyTheDip #StockMarket2025 #InvestingStrategies #BullTrapOrBreakout #MarketRally #MarketPullback #MarketRally #MarketBounce #200DMA #MarketSupport #Tariffs #BlackSwan #CorporateEarnings #ConsumerConfidence #PCE #GDP #FinancialResponsibility #MarketLows#InvestingAdvice #Money #Investing