Steve Liesman criticized President Trump's tariffs as a self-inflicted disaster, with a lot of concerns about a recession influenced by these policies. Implemented tariffs included a 10% baseline on nearly all imports, with 25% on automobile imports, resulting in significant market declines, including the Dow dropping nearly 4,000 points. Liesman suggests that the financial markets are reacting to the increased likelihood of recession, estimating its probability at 60%. He conveyed doubts about the potential for economic resurgence from these trade policies, alongside feelings that Trump's reins have slipped away from his advisors.
Liesman emphasized the market is pricing in a high probability of recession, indicating that there could be further declines in the stock market if conditions worsen.
He compared Trump's trade actions to steering the Titanic towards an iceberg, indicating the dangerous path of self-inflicted economic damage.
Liesman criticized Trump's use of inflated numbers to justify tariffs, stating it has led to significant losses in stock value since his presidency began.
He noted that influential investors previously relied on Trump's advisors to temper his decisions, but now suggests those restraints have faded away.
Collection
[
|
...
]