Steve Liesman: ‘If this Tariff Regime Remains, There Will Be a Recession’

EXCERPT:

LIESMAN: “I’m not sure I’d put it that way. Stephanie, with respect. I think what the market would then assess is that their outlook for earnings would be much more robust, and for the economy would be much more robust than it was before this sort of tariff turmoil that was out there, and that then they could focus on the things that they really thought they were going to get, which was a really nice tax bill for them and some deregulation. Those are the things the market really was kind of banking on when it came to the Trump Administration. So what’s happening right now is, is you don’t want to be short this market because of the fact that the president could put out some tweet that would be positive, and you can’t be long because it doesn’t look like we’re going back to the old world we had, which was the previous tariffs regime. So I would just say that what’s happened right now is that it is pretty pervasive on the street, that if this tariff regime remains, there will be a recession.”