Trump's 'blanket approach' on tariffs leaves risk for recession
Ukrainian President Volodymyr Zelenskyy's meeting with US President Trump and Vice President JD Vance turned heated as the American leaders pressed him, with Trump later writing that Zelenskyy is "not ready for peace." SkyBridge founder Anthony Scaramucci sits down with Yahoo Finance Executive Editor Brian Sozzi at the Bitcoin Investor Week conference in New York to express his thoughts on the matter, applauding Zelenskyy's resolve to stand against Russian President Vladimir Putin's invasion for the last three years. Scaramucci — who briefly served as the White House Director of Communications in the first Trump administration — goes on to discuss the negative effects of President Trump's tariffs on US consumers. "Remember tariffs are a tax, and they're primarily a consumer tax, [it's] a consumption tax, sort of like a VAT [value-added tax]. And that’s a regressive tax. So what ends up happening is the poor people, it eats up more of their disposable income than any other income group," Scaramucci says. He also warns about the possibility of a recession through these combative trade policies: "I don't think this sort of blanket approach is the right way to do it, and I think he's [Trump] is going to put us into a recession, frankly." Scaramucci also addresses the future of cryptocurrency in the face of ongoing political changes Also catch Brian Sozzi's full interviews with Professional Capital Management founder and CEO Anthony Pompliano and Figure Markets founder and CEO Mike Cagney from the Bitcoin Investor Week conference. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Josh Lynch
