June retail sales data suggests continued consumer spending in the U.S., reinforcing the stock market's belief that tariffs, even those potentially increasing in August, may not significantly deter consumers. This positive outlook is driven by the resilience of American consumers, who appear willing to absorb some cost increases rather than curtail their spending habits. The data provides a degree of confidence that the economy can withstand the impact of tariffs, at least in the short term, as long as consumer demand remains robust.