Trump Has One Headwind That Continues: Tariffs

Trump Has One Headwind That Continues: Tariffs. The President is doing a fantastic job in so many areas such as deregulation, business friendly environment, getting people to invest in the United States. Tariffs is the one headwind that he has.

Tony Katz:  

So President Trump decides that tariffs on beef and coffee are all of a sudden no good. These are a serious, serious issue, these tariffs, and they have to be gotten rid of in order to lower prices. Yet I have been told reliably by all the people of MAGA-ville that tariffs are great. It’s what’s going to make America safe. And you don’t understand Tony and Steve Bannon referred to me as a stock Republican. Oh, Steve, you’re pretty. If the tariffs work so beautifully, why cut any tariffs at all, especially on things like beef or coffee or bananas in cocoa. Dr Matt Will joins us, economist at the University of Indianapolis. And this all starts with a story I saw at Breitbart.com and it was a Fed study. If this is what the headline says, Fed meaning the Federal Reserve. Fed study vindicates Trump policy one hundred and fifty years of evidence show tariff’s lower inflation.

And they go through this idea that they studied from 1870 to 2020, and they took a look at tariffs, the United States, the United Kingdom. In France, they took a macro view at this, and what they came to realize is that when you engage tariffs in putting a price increase on things from other countries, that what happens is that inflation doesn’t go out of control. And we certainly have seen the United States that inflation did not rise. It’s been kind of interesting. It’s still higher than where the Fed wants it to be. But I sent this story to you, Dr Will and I said, break this down for me. What in the world are we seeing here? So, before we get into Trump’s changes on tariffs, wood and iron included, along with coffee, tea, beef, bananas, and tropical fruit, just to name some. Walk me through this. You read this story over at Breitbart. What was the story saying and does it have credibility?

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