Markets may be past peak tariff uncertainty, even as investors weigh new tax on auto imports and brace for ‘Liberation Day’

• Investors have been forced to reckon with the apparent fact that Trump is serious about implementing substantial tariffs on several, if not all, U.S. trading partners. While there’s plenty of turmoil to come, Morgan Stanley Investment Management executive Jim Caron said traders are well-equipped to map out how different scenarios could impact the global economy and corporate earnings. 

President Donald Trump’s 25% tariff on imported vehicles and car parts pushed auto stocks down Thursday...