Recent developments surrounding President Trump’s tariffs have caused significant market fluctuations. Tariff updates may be announced Wednesday afternoon.
Jason Furman, professor at the Harvard Kennedy School of Government and former chairman of the Council of Economic Advisers under President Obama, joins Morning Brief to discuss the ongoing tariff situation and its economic impact.
He highlights the unpredictability of Trump’s tariff strategy, which initially imposed 25% duties on Canadian and Mexican imports, followed by a doubling of tariffs on China to 20%.
"The one fixed point for Donald Trump is he loves tariffs," Furman says. "The reasons he loves them keep changing, the countries change, the magnitude of them change — but those love of tariffs, that’s the one thing that there’s no whipsawing on."
"The impact [of tariffs] is definitely negative; there is no doubt about that," he adds. "More inflation makes it harder for our exporters, so harder to add jobs, bad for growth — all of that goes in the same direction."
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here: https://finance.yahoo.com/videos/series/morning-brief/
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