As the the presidential election cycle heads towards Super Tuesday, the current frontrunner for the Republican nomination is former President Donald Trump. While the economy has been through ups and downs during Biden’s presidency, many on Wall Street wonder what would happen during another Trump presidency. Strategists from Citi have authored a report taking a dive into what that would look like.

Citi Global Head of Macro and Emerging Market Strategy, and one of the authors of the aforementioned report, Dirk Willer joins Yahoo Finance to give insight into his report and highlight key takeaways if Trump wins the 2024 presidential election.

Willer spoke on the tariffs that Trump touts he would implement if back in office: “I think the issues that people worry about with Trump on the negative side when it comes to markets and economic policies, indeed, most of the tariffs, and a little of the geopolitics, which could also play very much into market reactions. On the tariff side, as you know, President Trump has put out a 10% tariff against almost everyone and a 60% tariff against China and he mentioned maybe 60% might not be enough. Clearly very, very aggressive policy.”

He continues on with: “But it will not be probably year like 2017 which had adjusted very strong market because the tariff wars took some time to manifest itself. This time around, we expect to see that a little bit faster. So still decent equity markets under Trump, but not as strong as during the last term.”

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Editor’s note: This article was written by Nicholas Jacobino