A top financial expert gave a chilling warning on Monday that a recession will, quote, unquote,

absolutely come this year if tariffs remain at their current levels.

Chief economist at Apollo Global Management, Torsten Sloc, appeared on CNBC's Monday.

Take a look at what he had to say.

Your note over the weekend refers to what you're calling the voluntary trade reset

recession, right, in which you sort of delineate all the consecutive challenges that the economy's

potentially going to bear, right? Yep, because the issue is that tariffs of this magnitude on China

is having a very significant impact on small businesses.

Large businesses can pay the extra cost because when goods come from China to Los Angeles,

then of course you have to pay now a higher tariff.

Large companies have the resources and the working capital to deal with that.

But small businesses do not have the working capital.

So think about your independent toy seller in Nebraska, your men's clothing wearing in Wyoming.

Think about your Colorado seller of ski gear.

They basically do not have money and cash to pay 145% extra.

So we will have bankruptcies of retailers of very significant magnitudes if this is allowed to continue.

Okay, so you got that. The big box stores that have been backing Donald Trump against American consumers will probably be just fine.

It's small businesses that may well suffer.

Reteller bankruptcies are coming and fast if Donald doesn't reverse course and at least lower his nonsensical

and ridiculous tariffs.

The loss in the real-time market for small businesses, again, would damage both workers

and consumer sentiment.

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