Catherine Rampell: Revenue from Tariffs Is ‘Probably Going To Be Pennies’; ‘Everybody Is Worse Off’

RUSH TRANSCRIPT WHITFIELD Simply ░░░░░░░░ he says you know ░░░░░░░░ This is going to ░░░░░░░░ the U S make ░░░░░░░░ lot of money And ░░░░░░░░ how how is that ░░░░░░░░ made and where would ░░░░░░░░ go RAMPELL They are ░░░░░░░░ on imported goods that ░░░░░░░░ have some revenue But ░░░░░░░░ much revenue is probably ░░░░░░░░ to be pennies relative ░░░░░░░░ the economic cost Because ░░░░░░░░ s going to raise ░░░░░░░░ price of goods that ░░░░░░░░ into the United States ░░░░░░░░ s going to reduce ░░░░░░░░ which means you won ░░░░░░░░ necessarily get uh tariff ░░░░░░░░ on all of the ░░░░░░░░ that we are receiving ░░░░░░░░ You ll see fewer ░░░░░░░░ them which is why ░░░░░░░░ other you ll see ░░░░░░░░ of these goods coming ░░░░░░░░ which is why other ░░░░░░░░ don t want them ░░░░░░░░ it s not like ░░░░░░░░ come out ahead or ░░░░░░░░ Um and the other ░░░░░░░░ feels the opposite Everybody ░░░░░░░░ worse off So yes ░░░░░░░░ will be some tax ░░░░░░░░ that s collected last ░░░░░░░░ around Viewers may recall ░░░░░░░░ Trump just used that ░░░░░░░░ revenue that tariff revenue ░░░░░░░░ pay off farmers in ░░░░░░░░ United States who were ░░░░░░░░ by retaliatory tariffs Right ░░░░░░░░ when Trump imposed steel ░░░░░░░░ aluminum tariffs for example ░░░░░░░░ the world lots of ░░░░░░░░ retaliated by saying okay ░░░░░░░░ are going to raise ░░░░░░░░ own import taxes tariffs ░░░░░░░░ American soybeans or corn ░░░░░░░░ other products which hurt ░░░░░░░░ farmers And Trump just ░░░░░░░░ that revenue to them ░░░░░░░░ maybe he ll try ░░░░░░░░ do the same thing ░░░░░░░░ But it s not ░░░░░░░░ to actually raise meaningful ░░░░░░░░ Again it s likely ░░░░░░░░ hurt American consumers uh ░░░░░░░░ American employers who are ░░░░░░░░ retaliatory tariffs and also ░░░░░░░░ American companies that import ░░░░░░░░ goods right to make ░░░░░░░░ own products So like ░░░░░░░░ steel and aluminum if ░░░░░░░░ raise the cost of ░░░░░░░░ inputs that s going ░░░░░░░░ hurt uh automakers um ░░░░░░░░ can uh you know ░░░░░░░░ and downstream companies like ░░░░░░░░ know American craft beer ░░░░░░░░ or soda makers for ░░░░░░░░ uh,