Andrew Ross Sorkin emphasized that President Trump's 'Liberation Day' on April 2, marking the beginning of significant tariffs on imports, could create turbulent times for the U.S. stock market. With the S&P 500 and Nasdaq experiencing steep declines, Sorkin cautioned that the anticipated tariffs would likely lead to a prolonged period of uncertainty rather than immediate stability. He indicated that while there may be negotiations emerging, these would unfold on a country-by-country basis, creating complex and extended challenges in international trade relations.
It's going to be country by country. You may have blocs like the EU do it, but that's the complicated part. So this idea that uncertainty somehow becomes certain is not the case, he said.
The market is already not responding well to a potential tariffs war. The S&P 500 and Nasdaq had their worst quarter since 2022 this week.
Sorkin acknowledged the tariff fighting could lead to a grand negotiation, but other political leaders will be facing their own internal pressures.
Whatever numbers we get tomorrow are just the beginning of a much longer story.
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