Wall Street expects Donald Trump to intensify some of his unpopular policies after the midterm elections, particularly by raising tariffs. Goldman Sachs believes any reductions pursued by Democrats would be more than offset, pushing the effective US tariff rate up by nearly two percentage points. The conflict with Iran, now estimated to cost $47 billion, could become more aggressive in the Persian Gulf, according to UBS. In addition, the federal government must secure funding by December 11 to avoid a shutdown, while Republicans plan a reconciliation bill that could increase defense spending and address the debt limit.
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