CNBC reporter: Trump's tariffs moves 'absolutely insane'
CNBC reporter Steve Liesman blasted President Trump over his trade policies and broader economic strategy in the wake of a struggling stock market this week.
"I'm going to say this at the risk of my job, but what President Trump is doing is insane," Liesman, CNBC's senior economics reporter, said during a segment on the cable channel Tuesday. "And now he's saying he's putting 50 percent tariffs on Canada unless they agree to become the 51st state. That is insane. There's just no other way of describing it."
Trump's demand of Canada, Liesman added, "shows there are no bounds around President Trump from the first administration," where there were people around him that would "smooth over some of the edges."
The longtime financial news analyst said Trump's posture toward "the Constitution and the rule of law" could also be "bad for the attraction of capital."
"It seems as if this administration is doing everything it can to chase foreign capital away," he said.
Trump has this week said he "does not see" a recession coming and dismissed concerns about the sagging stock market. His allies and economic advisers have argued the current pain on Wall Street will eventually lead to long-term financial benefits for investors and American workers.
During a briefing with reporters Tuesday, White House press secretary Karoline Leavitt said business leaders, investors and American workers should "bet on President Trump."
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