Andrew Ross Sorkin warned on Squawk Box that President Trump's impending 25% tariffs on Mexico and Canada could cause an explosive economic situation. Economists caution that these tariffs may raise consumer costs, ultimately burdening taxpayers. Sorkin speculated that these tariffs could be linked to broader negotiations involving immigration and other issues. With only 24 hours until their implementation, uncertainty looms over whether Trump will follow through or negotiate a different outcome. The potential for rising tariffs on China adds to the complexity of the situation, and opinions diverge on Trump's underlying motivations.
Sorkin warned that tariffs on goods could lead to rising consumer costs and economic damage in the U.S., suggesting that taxpayers will ultimately bear the burden.
He theorized that the tariffs might form part of a larger negotiation strategy by Trump, touching on immigration and other pivotal issues.
Despite the imminent tariffs, the possibility remains that Trump could negotiate a resolution, leading to no actual implementation.
Lemire suggested that Trump's approach might be aimed at creating a narrative of victory, complicating predictions about his negotiating motives.
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