CNBC reporter Steve Liesman ripped President Donald Trump over his “insane” trade policies on Tuesday.
Trump announced Tuesday that he would be doubling his planned tariffs on steel and aluminum imports from Canada after Ontario Premier Doug Ford implemented a 25% surcharge on electricity exports to the U.S. Trump also repeated his call for Canada to become the 51st state of the U.S.
Liesman, a senior economics reporter for CNBC, criticized Trump over his trade policy on Canada, the U.S.’s largest trading partner.
“I’m going to say this at risk of my job, but what President Trump is doing is insane. It is absolutely insane. It is about the eighth reason we’ve had for the tariffs, and now he’s saying he’s putting 50% tariffs on Canada unless they agree to become the 51st state. That is insane,” Liesman said Tuesday on CNBC.
“We need massive amounts of capital that we want to have fund our deficits, pays 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 again, to chase foreign capital away,” he added.
After Trump threatened to increase his planned tariffs, Ford suspended the planned surcharge on electricity exports to the U.S. In response, Trump withdrew his plans to double the steel and aluminum tariffs on Canada.
Trump said he appreciated Ford suspending the surcharge on electricity exports.
“There’s a very strong man in Canada who said he was going to charge a surcharge, or a tariff, on electricity coming into our country. He has called and said he’s not going to do that,” Trump said. “It would have been a very bad thing if he did. And he’s not going to do that. And I respect that.”
Trump continued to call for Canada to become the 51st state, a position that has infuriated Canadians. Trump suggested he does not respect the border, saying it is an “artificial line that looks like it was done with a ruler.”
The Associated Press contributed to this report.
Our journalism needs your support. Please subscribe today to NJ.com.
