On paper, the US economy continues to chug along three weeks into the Trump presidency. The January jobs report showed a solid 143,000 jobs created. Inflation is stable. And big cap tech companies such as Amazon and Meta continue to invest aggressively to build out AI infrastructure. While these are positive reads on the economy, it’s certainly not too hard to see the dark clouds forming on the horizon. President Trump has thrust the US into trade wars with China, Mexico and Canada. That stands to reignite inflation and possibly bring rate hikes from the Fed back on the table. Yahoo Finance executive editor Brian Sozzi chats with Apollo Global Management chief economist Torsten Sløk to get his read on the tariff situation. Do tariffs tip the economy into a short-term recession and the markets into a fresh tailspin? Slok also serves up his economic predictions for the rest of 2025.

Yahoo Finance's Opening Bid, brings you a high-octane take on the freshest analyst calls, wildest stock moves and shrewdest commentary in the business world. Executive Editor Brian Sozzi puts Wall Street's finest through their paces in this essential conversation for every investor - before the stock market opens.

Find this episode's transcripts and more episodes of Opening Bid at http://finance.yahoo.com/videos/series/opening-bid/.

Thoughts? Questions? Fan mail? Email us at [email protected].

00:00-Torsten Sløk on Opening Bid

03:30-Impact of tariffs on GDP

06:30-The trade war s**t show

12:45-An inflationary call that stands out

16:45-Why do things look more expense?

Yahoo Finance's Opening Bid is hosted by Brian Sozzi, and produced by Rachael Lewis-Krisky.

Torsten Sløk joined Apollo in August 2020 as Chief Economist and he leads Apollo's macroeconomic and market analysis across the platform.

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