This is CBS Eye on the World.

Here's John Batchelor.

The American economy, the global economy.

I welcome Elizabeth Peek,

columnist at the Hill,

columnist at Fox News,

to observe the markets here at the beginning of 2024,

2025, I've lost a year.

And what it means that we're within hours of the inauguration of a man who has been president

and will return to that post by next week.

Liz, a very good evening to you.

The markets are reacting oddly to the Donald Trump anticipation

because he's made it very clear that tariffs are in the wind.

The markets have been behaving as if tariffs are the last thing that

they can imagine suffering. What hasn't happened yet in anticipation is that our trading

partners, China and Europe, are in the doldrums. Let me be inexact here, the doldrums, while the American market continues

healthy. The sell-off we've had these last days is a sell-off from a high, not a seller from a

low. And there's reason to believe we have prospects this year of growth and productivity and

corporate earnings. What are we doing right that our colleagues in Europe and our adversaries in Asia are not

doing?

Good evening to you.

Good evening.

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