Economist Steve Moore argued that President Donald Trump’s upcoming tariffs could free America from the lofty tariffs of other countries.
Trump is scheduled to reveal details of his “liberation day” trade agenda at the White House Rose Garden on Wednesday. According to To CNN. Moore said in “Wake Up America” that the US’s current tariffs are unfair and that Trump may pressure other countries on balanced trade practices. (Related: Exclusive: Peter Navarro reveals the real plan behind Trump’s new tariffs)
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“I’ve heard the president’s announcement with anyone. I think what we’re trying to hear is a lot about this idea of mutual tariffs… the idea that the US has virtually the lowest tariffs in the world,” Moore said. “And as Trump says, these countries are tearing us apart. They’re not playing by the rules of the game. It’s not a level playing field. And I’m a free trade guy. I believe it’s beneficial. [for] A world where tariffs are reduced as much as possible. ”
“If Trump’s policy works here, I believe at the end of the day, tariffs will fall across the world. Our tariffs are around 3 or 4 or 5%, with many other countries over 20%,” he continued. “And that’s something we can’t live together, and at the end of the day, this could be a relief from the high tariffs these countries are charging US-made charges.
Trump imposed a 25% tariff on Canada and Mexico in March, and a 50% tax on Canada’s steel and aluminum. The president cited the country’s role in enabling illegal immigration and fentanyl to enter the United States
Trump then delayed Mexico’s tariffs until April 2 after a March 6 call with Mexican President Claudia Sheinbaum.
The president also struck China with a 20% tariff on its role in the fentanyl epidemic that destroyed the US
Israeli Prime Minister Benjamin Netanyahu announced on Tuesday post that his country has terminated all existing tariffs on US imports.
Host Sharla McBride asked Moore if he would expect additional countries following the Israeli lawsuit.
“I will,” the economist replies, “I think these countries will be forced to lower tariffs as all countries in the world need access to the large American consumer market.”
“The question is, how long it really takes. Trump says this will be a short-term pain for long-term profits. I agree with him,” he said. “This is the question of how short-term pain we will experience until these other countries start to become more cooperative.”
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