On MSNBC's Morning Joe, CNBC's Andrew Ross Sorkin highlighted growing concerns in the business community over President Trump's proposed tariffs. The consumer confidence index has dropped to an eight-month low, reflecting uncertainty among business leaders regarding economic policies. Sorkin noted that many companies are hesitant to invest due to unclear tariff implications and tax policies. Additionally, major cuts proposed by Elon Musk's Department of Government Efficiency are contributing to fears of job losses and economic slowdown, revealing broader anxieties about the current economic climate and its future trajectory.
The business community, while maybe not acknowledging it as publicly as they should, is starting to get concerned themselves about the tariff piece, about the taxes piece.
Nobody's making an investment right now because they don't know what to invest in. They don't know whether the tariff is going to be on or off.
Musk did say last year that DOGE cuts could lead to some economic pain temporarily. He suggested it was a temporary pain.
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