More tough talk on trade, as President Trump suggests sector-specific tariffs could be on the table. In the latest edition of the Potomac Perspective podcast, Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro look at what industries could be targeted. Also discussed: the outlook for M&A and tax policy.

This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. ©2025

More tough talk on trade, as President Trump suggests sector-specific tariffs could be on the table. In the latest edition of the Potomac Perspective podcast, Stifel Chief Washington Policy Strategist Brian Gardner and co-host Neil Shapiro look at what industries could be targeted. Also discussed: the outlook for M&amp;A and tax policy.
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This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus &amp; Company, Incorporated (&ldquo;Stifel&rdquo;). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus &amp; Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC &amp; NYSE. &copy;2025

Stifel Chief Washington Policy Strategist Brian Gardner provides timely insight and analysis into how political, legislative, and regulatory developments are impacting business and capital markets.

This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. © 2022

Stifel Chief Washington Policy Strategist Brian Gardner provides timely insight and analysis into how political, legislative, and regulatory developments are impacting business and capital markets.
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This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus &amp; Company, Incorporated (&ldquo;Stifel&rdquo;). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus &amp; Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC &amp; NYSE. &copy; 2022

Potomac Perspective with Brian Gardner

Stifel Chief Washington Policy Strategist Brian Gardner provides timely insight and analysis into how political, legislative, and regulatory developments are impacting business and capital markets. Moderated by Stifel Head of Corporate Communications Neil Shapiro.

This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus & Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus & Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC & NYSE. © 2023

Stifel Chief Washington Policy Strategist Brian Gardner provides timely insight and analysis into how political, legislative, and regulatory developments are impacting business and capital markets. Moderated by Stifel Head of Corporate Communications Neil Shapiro.
<hr>
This material is prepared by the Washington Policy Strategy Group of Stifel, Nicolaus &amp; Company, Incorporated (“Stifel”). This material is for informational purposes only and is not an offer or solicitation to purchase or sell any security or instrument or to participate in any trading strategy discussed herein. The information contained is taken from sources believed to be reliable, but is not guaranteed by Stifel as to accuracy or completeness. The opinions expressed are those of the Washington Policy Strategy Group and may differ from those of other departments that produce similar material and are current as of the date of this publication and are subject to change without notice. Past performance is not necessarily a guide to future performance. Stifel does not provide accounting, tax, or legal advice and clients are advised to consult with their accounting, tax, or legal advisors prior to making any investment decision. Additional information is available upon request. Stifel, Nicolaus &amp; Company, Incorporated is a broker-dealer registered with the United States Securities and Exchange Commission and is a member SIPC &amp; NYSE. © 2023