Art Cashin told CNBC on Monday that President Donald Trump may have learned his lesson in response to market volatility amid the trade tensions.
Cashin said, "I don't know what phone calls [Trump] got or didn't get but I saw somebody who is trying to pull Friday back out of the fire. I think when he saw that we were down 700 points, I think he said maybe that was me."Friday that the U.S. will raise tariffs on $250 billion worth of Chinese goods to 30% from 25%. He also ordered U.S. companies, in a series of tweets, to move their Chinese operations elsewhere, which led shares of U.S. companies to fall sharply.
Cashin also addressed recent recession warnings and said he's "teriffied" of seeing negative rates in the U.S. "I can only hope someone with common sense is saying 'hold it that's far enough.'"
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