How Trump's tariffs could harm Americans

Bank of America estimates that the tariffs will cut earnings for stocks in the S&P 500 ( ^GSPC ) index by 5% to 35%. The range is so large because there's so much unpredictability. If the main disruption is simply the higher cost of imports, the earnings hit would be near the lower end. But if US trading partners retaliate with higher tariffs of their own on American products, or other measures, it could slam the foreign sales of American companies and hit earnings closer to the higher estimate. The Trump tariffs will have multifold other consequences, including a lot…