Markets are overreacting to ‘shock’ of tariffs

Richard Brian | Reuters

Anthony Scaramucci, Founder and Co-Managing Partner at SkyBridge Capital, speaks during the opening remarks during the SALT conference in Las Vegas, Nevada, May 17, 2017.

Markets are overreacting to the proposed steel and aluminum tariffs by President Donald Trump, according to former White House communications director Anthony Scaramucci.

Scaramucci’s comments came during CNBC’s “Halftime Report.”

Scaramucci worked in the Trump White House last year as communications director. However, his time on the job lasted just 10 days.

President Donald Trump fired Scaramucci after Scaramucci unloaded on former chief of staff Reince Priebus and then White House chief strategist Steve Bannon in an expletive-laden rant to a New Yorker reporter.

This is a developing story. Check back for updates.