PANews reported on April 9 that according to Jinshi, Brent Donnelly, president of foreign exchange research firm Spectra Markets, said that although Trump's tariff policy caused a severe stock market sell-off, worse economic impacts are yet to come. He warned that traders have not yet factored in factors such as upcoming supply chain disruptions, hiring freezes and rising costs into prices. Donnelly added that hopes that the White House would quickly reach an agreement with its trading partners may be wrong. He pointed out that negotiations on the US-Mexico-Canada Trade Agreement, which was overseen by Trump and advocated at the time, lasted for more than a year. "Uncertainty will continue to exist and lags are real," Donnelly said, adding that it is difficult for economic forecasters to model what will happen in the coming months.