- The stock market has plunged since President Donald Trump announced Monday that 25% blanket tariffs on Canada and Mexico, as well as an additional 10% tax on Chinese imports, would go forward. Carlyle CEO Harvey Schwartz remains optimistic about the U.S. economy, but he acknowledged a trade war would result in sustained inflation. Other investment firm executives also weighed in at a conference in Midtown Manhattan, with the fiercest criticism coming from former Treasury Secretary Robert Rubin.
Carlyle CEO Harvey Schwartz understands why markets are freaking out about tariffs, but the head of the famed private equity firm isn’t hitting the panic button yet. Still, markets hate uncertainty, as the saying goes, and the former Goldman Sachs executive said it’s time for investors to “buckle up” as Wall Street awaits President Donald Trump’s next move.
