The ongoing concerns about the impact of President Trump's tariffs on the economy have intensified, especially with retaliatory measures expected from China, Canada, and Mexico.
Willett Advisors chairman and CEO Steve Rattner joins Catalysts to discuss the immediate effects of these tariffs.
"Now that the president has actually imposed them, the markets are speaking. And, so, no longer can the president say, 'Well, you know, all you economists are all just crazy. This is the right thing to do,'" Rattner, who also served as the head of the Presidential Task Force on the Auto Industry under Obama, explains to Seana Smith and Madison Mills.
"You've now got investors, a whole variety of thousands of investors, all voting with their pocketbooks and saying, 'this is bad for business, bad for the economy, and ultimately bad for consumers.'"
Rattner highlights how executives had initially dismissed the tariffs, thinking they wouldn’t last. However, with tariffs now in place (25% on imports from Canada and Mexico, 20% on Chinese goods), it paints a different picture.
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"Certainly, the fact that they're actually going in effect has to have some impact on business leaders and their belief that the Trump administration is simply prepared to drive the economy off the rails, if necessary for whatever bizarre reason," Rattner says.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Josh Lynch