On Friday’s broadcast of the Fox Business Network’s “Varney & Co.,” former Trump Economic Adviser Stephen Moore stated that by delaying some tariffs and lowering some, “Trump is inadvertently confirming that, if you put a tariff on something, a tariff is a tax” and when you tax something, its price increases.
Moore said, “[T]ariffs are going down, not up. As you guys just reported, lower reductions on coffee, lower reductions on steel, lower reduction on kitchen accessories. All of these things, I think, are very bullish for the U.S. economy, and so, I’m a happy guy right now.”
He added, “Trump is inadvertently confirming that, if you put a tariff on something, a tariff is a tax. As you know, Ashley, and if you tax something, its price will go up. And we saw that, for example, with coffee and beef. Trump’s reducing those tariffs will lower those prices, help with affordability. And you’re quite right, Ashley, that Trump has used these threats of tariffs in a very effective way.”
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