Trump Tariff Implosion Is the ‘Worst Self-Inflicted Wound’ Seen in US Economy History, Obama Advisor Says | Video

It has been one day and President Donald Trump’s “Liberation Day” tariffs are already being widely considered a major implosion across the country. While speaking with MSNBC, Gene Sperling, the former Director of the Economic Council for Presidents Obama and Clinton, called the market reaction to Trump’s tariffs the “worst self-inflicted wound” in the country’s economic history. “It’s not just that you’re doing tariffs, there are ways to have a strategic tariff policy to promote bringing manufacturing back in key areas.

I support that, President Biden supported that. But you have to take governing seriously,” he said. “What we’ve now seen is the same attitude that you saw at DOGE – careless, reckless, destructive policy changes – is now happening at the global stage with this tariff announcement.



” The economic advisor continued: “This is the worst self-inflicted wound I have ever seen in the history of our country economically. Donald Trump was going into what most people thought was going to be a beautiful soft landing. What made a lot of people upset was that he was going to take credit for the stable growth, lower inflation, low unemployment that Biden had done a lot of the work on.

” Watch Sperling’s appearance on MSNBC’s “Deadline: White House” below: The former Obama advisor went on to say if he or fellow guest Steve Rattner were advising the current president they would have told him to ride this soft landing everyone thought he had. Instead “for literally no reason you have taken a steady soft landing and now created trillions of dollars of wealth loss.” Many have been feeling a similar bafflement following Trump’s tariff signing.

On Wednesday, CNBC host Jon Fortt did not hide his concern while watching the market free fall in the wake of the move. “This — I think, fair to say, is worse than the worst-case scenario of the tariffs that many in the market expected the president to impose,” he said. Watch the full MSNBC segment above.

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