Trump 'did not expect this reaction' during tariff negotiations: MSNBC financial analyst

Donald Trump misplayed what he thought was a winning hand when he decided to start a trade war with China .

That is the opinion of MSNBC contributor and financial analyst Steve Rattner who appeared on "Morning Joe" on Friday to deliver bad news to American consumers.

Speaking with co-host Willie Geist, Rattner suggested that the president met his match when speaking with President Xi Jinping of China who set the president straight.

ALSO READ: 'We’ve made a mistake': Trump’s trade war sends GOP into frenzy

"I think they're desperately trying to show some kind of progress," he said of the Trump administration. "They talk about India and this and that; I think China is the really tough nut, we have these huge, huge reciprocal tariffs on on both sides."

"Now I think my personal view, which based on I'm not obviously in the White House, is that I think Trump did not expect this kind of reaction from China when he put them on," he elaborated. "I think he thought they would quickly come to the table because we buy so much stuff from them. But, instead, Xi basically said, 'I'm a real country, my economy is essentially as big as yours, a lot more people. I make all kinds of stuff that you need, and I'm not going to be pushed around by you.'"

"And so Xi put on his tariffs. Trump put on more tariffs and here we sit 154% tariffs on imports from them which basically means no imports," he concluded. "So the answer is look, at some point I think there will be conversations with China. I just don't believe at this point we're really making any progress."

You can watch below or at the link.

- YouTubeyoutu.be