Bloomberg Talks
Apollo Global Management's Marc Rowan Talks Tariffs and Trade
May 5, 2025
Marc Rowan, CEO and co-founder of Apollo Global Management, shares insights on the complexities of U.S. tariffs under the Trump Administration. He argues that tariffs can be a necessary strategy amid current economic uncertainties. Rowan delves into the potential recession's nuances, the U.S.-Mexico trade relationship, and how global trade dynamics affect U.S. capital markets. He highlights the importance of strategic investment choices in today's market, especially considering rising geopolitical risks and inflationary pressures.
11:03
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Quick takeaways
- Marc Rowan emphasizes that while tariffs are justified, their impact causes significant uncertainty, hindering business investments and hiring.
- The U.S. capital markets remain strong, but ongoing trade-related uncertainties threaten the perception of the U.S. brand among global investors.
Deep dives
Impact of Tariff Discussions on Economic Growth
Current discussions about tariffs and trade relationships are creating significant uncertainty in the business environment, which could lead to negative economic growth in upcoming quarters. While the administration's approach to addressing trade issues is seen as justified, it has instilled caution among businesses, preventing them from making new investments or hiring. The potential for a recession is not just about defining one but also considering its severity, with the firm predicting a 'non-recession recession' where asset prices might correct without a labor market collapse. The administration needs to swiftly establish a clear framework for trade to mitigate this uncertainty and encourage business activity.
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