CNBC Reporter Criticizes Trump’s Tariff Plan as 'Insane'

Steve Liesman warns that President Trump's proposed 50% tariffs on Canada could harm the economy and deter foreign investment.

CNBC senior economics reporter Steve Liesman described President Trump's proposed 50% tariffs on Canada as 'insane' during a broadcast on Tuesday.
Liesman highlighted Trump's suggestion that Canada should agree to become the 51st U.S. state as part of the tariff proposal, calling it unprecedented and extreme.
He contrasted Trump's current administration with his first term, noting the absence of advisors who previously moderated his actions.
Liesman expressed concerns that the administration's approach to constitutional norms and the rule of law could repel foreign capital, which is critical for funding deficits and maintaining market stability.
The White House defended the president's economic strategy, with Press Secretary Karoline Leavitt urging confidence in Trump's long-term financial vision despite current market struggles.