Fitch Says ‘Liberation Day’ Takes US Tariff Rate Back to Level Last Seen in 1909

April 3 (Reuters) - Fitch:

• FITCH: US GROWTH IN 2025 LIKELY TO BE SLOWER THAN 1.7% THAT WE HAD PROJECTED IN MARCH, GIVEN HIGHER-THAN-ANTICIPATED TARIFFS

• FITCH: TARIFF HIKES WILL RESULT IN HIGHER CONSUMER PRICES AND LOWER CORPORATE PROFITS IN US

• FITCH: SOME SOVEREIGNS WHERE LEVEL OF VALUE-ADDED IN EXPORTS TO US IS LARGE AS SHARE OF GDP COULD FACE DOWNWARD PRESSURE ON RATINGS AS US TARIFFS RISE

• FITCH ON US TARIFFS: UPWARD PRESSURE ON GOODS PRICES FROM TARIFFS MEANS FED IS LIKELY TO BECOME MORE CAUTIOUS ABOUT FURTHER RATE CUTS IN NEAR TERM