CNBC reporter Steve Liesman has criticized Donald Trump’s latest “insane” move at the cost of putting his job at risk. The senior economics reporter didn’t hold back while delivering a ferocious analysis of the Republican President’s latest economic policies. In particular, Liesman has blasted him over his tariffs, which have sent a shockwave through the world, risking a trade war.
“I’m going to say this at risk of my job, but what President Trump is doing is insane. It is absolutely insane,” Steve said while hosting the CNBC show The Exchange. He continued, “And now he’s saying he’s putting 50% tariffs on Canada unless they agree to become the 51st state.”
“That is insane. There is just no other way of describing it,” the journalist lamented. “There are currently “no bounds” around Trump when compared to his first term when “there were people around him who seemed to… I don’t know what the word is… but smooth over some of the edges.”
Right after criticizing Trump’s tariffs, Liesman jumped to discussing how the administration is “treating the Constitution and laws”: “The other thing that’s not talked about.”
The senior economic reporter blasted, “I think all of that is bad for the attraction of capital,” We need massive amounts of capital if we want to fund our deficits, pay for the things we want to pay for, sell our bonds, and have high stock prices. And it seems as if this administration is doing everything it can to chase foreign capital away.” He concluded, “Insanity is not a strategy.”
Steve Liesman was discussing Trump’s economic policies with The Exchange Guest Roth Capital’s Darda, who noted that McKinley tariffs are a “suicide mission,” that will destroy both the labor and equity markets. As an example, he took viewers back to 1890-1894, and the Smoot-Hawley Tariff of 1930, both of these periods marked utmost failure for labor and equity market, reports CNBC.
pic.twitter.com/61EE773Oo3 Steve Liesman, CNBC’s senior economics reporter: “I am going to say this at the risk of losing my job, but what President Trump is doing is insane… Now he’s saying he’s putting 50 per cent tariffs on Canada unless they agree to become the 51st state. That…
— Rick Westhead (@rwesthead) March 11, 2025
However, despite expert warning about a potential trade war, the President emphasized that he believes it can restore America’s manufacturing prowess. He has frequently praised William Mckinley, the 25th U.S. president who imposed heavy tariffs on foreign nations more than 100 years ago before the country has an income tax policy.
Now, Donald Trump is determined to follow in his footsteps, imposing massive tariffs on foreign-made goods starting on April 2. He insisted that the 20% tariffs he imposed on China and the 25% (delayed) on Mexico and Canada would “coerce” the countries to pause the flow of illegal immigration and fentanyl to the United States.
He also insisted that it will also help in raising revenue. During his Congressional address last week, he emphasized, “We will take in trillions and trillions of dollars and create jobs as we have never seen before.”
Overall, Trump is a firm believer that “Tariffs are about making America rich again and making America great again.”
