Expert sounds alarm on economic impact of tariffs

President Trump initiated sweeping tariffs on imports from Canada, Mexico and China, triggering a replace battle that may have lasting impacts. George Seay, founder & chairman of Annandale Capital, joined TheStreet to chat about how this is in a position to affect consumers and investors alike.

Associated: Best U.S. bank overhauls inventory market outlook amid tariff-linked budge

Pudgy Video Transcript Below:

GEORGE SEAY: Effectively these items sort of escalate. And if you occur to if you occur to place tariffs on other international locations, they'll place tariffs on us. And we're unparalleled stronger than them. So they'll they'll yield earlier than we enact. However it be no doubt bad for global boost within the aggregate. It is bad for domestic boost particularly to us. I fabricate no longer look this changing anytime soon. I believe that is the president's been very definite. Here is one thing he believes in and wants to construct up. And I believe Warren Buffett's been very definite asserting that is a tax and it is a tax. It is a tax on foreign international locations. It is a tax on the American client. And it be going to manual to inflation. It'll lead to higher costs for all the pieces. And it be it be no longer good for economic boost. So am I in prefer of this? Fully no longer. Will it play out any method. Fully so we'll favor to dwell with this. It is part of part of the sector we dwell in within the within the period in-between.

I am a no doubt long term investor, so I plan my investments based on what I believe is going to occur five or even 10 years down the line. So I am no longer a trader. I fabricate no longer enact enact things day after day or even month to month. I am very long commodities glorious now although. I believe inflation is here to end for slightly a while, and I believe pure gas is going to be high for a truly long time to attain after a 10 yr length of very refined costs on that. So I am no doubt centered on commodities. I am centered on out of the country stocks, I am centered on fee stocks, I am centered on the entire things which have been out of prefer for roughly the past 15 years, because I believe the worm is going to flip.

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