CNBC's Andrew Ross Sorkin on Monday delivered a grim assessment of the state of President Donald Trump's economy.
With stock futures once again showing steep losses, Sorkin said that Trump's decision to double down on his widely criticized tariff policies has put markets in a state of total fear.
What's more, he said that it was become increasingly likely that turmoil on Wall Street would spill over onto Main Street in the near future.
"I think there's a real issue with contagion and it's possibly, by the way, a day away at the rate we're going," he said.
ALSO READ: 'I'm all for it': Trump would 'love' to send American citizens to El Salvador prison
After some cross-talk, Sorkin then explained how the tariff policies were likely going to harm consumption throughout the economy.
"Do you think that retirees who are watching the broadcast right now are running out to buy a new anything right now? No!" he said. "Everybody's freaking out of their minds, and so this is a true man-made disaster!"
"It's self-inflicted," interjected host Joe Kernen, referring to the damage being done by Trump's tariffs. "They got too cute by a factor of about 10 when they calculated the tariffs because the tariffs are not nearly as high as what that weird equation brought."
Sorkin then pointed out that the longer the current chaos goes on, then "the harder it is to make a good deal, that is, to actually walk away with a win."
Watch the video below or at this link.