May 2025 Newsletter

MAY 2025 NEWSLETTER

LPL’s research team published a fantastic piece on the economy. I am excited to share this with you since the media will absolutely not share all this good news about the economy. LPL has no agenda or political affiliation. These are just the facts, and as I expected, things are looking good.

Last week, the President made the following announcement securing the FIRST trade deal with U.K. Prime Minister Starmer. We expect this to be the first of many more announcements from the White House, as they continue to negotiate new country and sector specific agreements. The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol, and virtually all of the products produced by our farmers.

The UK will reduce or eliminate numerous non-tariff barriers that unfairly discriminated against American products. This is now turning out to be a great deal for both countries. Prime Minister Starmer: “This is going to boost trade between and across our countries. It’s going to not only protect jobs, but create jobs, opening market access.”

This trade deal will significantly expand U.S. market access in the UK, creating a $5 billion opportunity for new exports for U.S. farmers, ranchers, and producers.

The reciprocal tariff rate of 10%, as originally announced on Liberation Day, is in effect. This is expected to raise $6B in revenue for the U.S. Last week’s action also sets the tone for other trading partners to promote reciprocal trade with the United States, as President Trump continues to advance the interests of the American people, enhancing market access for American exporters and lowering tariff and non-tariff barriers to protect our economic and national security.

This is a MILESTONE IN ADVANCING AN AMERICA FIRST TRADE POLICY: Since Day One, President Trump challenged the assumption that American workers and businesses must tolerate unfair trade practices that have disadvantaged our workers and businesses for decades and contributed to our historic trade deficit. The Economic Prosperity Deal with the United Kingdom is a critical step forward in a special relationship to promote reciprocal trade with a key ally and partner.

On a personal note, it is nice having Nicky home from school. We picked him up last Friday. He finished his freshman year with a 3.7 GPA majoring in finance. What an amazing first year he had on and off the ice. I couldn’t be prouder. He’ll be working this summer with his goalie coach teaching younger goalies and will be doing a mini-internship here at the office a couple of days a week. Lexi only has days left until she is out for the summer. I can’t believe my baby girl is graduating from high school at the end of the month. She is sad it’s coming to an end, but she is super excited to start the next chapter in her life. No surprise here, but she will finish her high school career on the High Honor roll one last time.

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.