Goolsbee on Tariff War: Nobody Wants to Go Back to 2020, the Beginning of Covid

BURNETT But Trump is ░░░░░░░░ tariffs on China go ░░░░░░░░ 104 percent on Wednesday ░░░░░░░░ they don t back ░░░░░░░░ completely and totally off ░░░░░░░░ any of his tariffs ░░░░░░░░ noon on that day ░░░░░░░░ do you even expect ░░░░░░░░ hear from China in ░░░░░░░░ next minutes and hours ░░░░░░░░ terms of their response ░░░░░░░░ I don t know ░░░░░░░░ sure I can t ░░░░░░░░ for the Chinese government ░░░░░░░░ ve got a situation ░░░░░░░░ unprecedented in the U ░░░░░░░░ where the hard data ░░░░░░░░ you look at the ░░░░░░░░ rate being barely 4 ░░░░░░░░ the inflation rate has ░░░░░░░░ coming down We ve ░░░░░░░░ making progress The hard ░░░░░░░░ has looked pretty good ░░░░░░░░ we ve just thrown ░░░░░░░░ and lots of dust ░░░░░░░░ the air that make ░░░░░░░░ hard to figure out ░░░░░░░░ we re headed in ░░░░░░░░ short run And you ░░░░░░░░ see that in the ░░░░░░░░ market You can see ░░░░░░░░ in the consumer confidence ░░░░░░░░ business sentiment kind of ░░░░░░░░ There s just a ░░░░░░░░ of question marks And ░░░░░░░░ that s led everybody ░░░░░░░░ the Fed and all ░░░░░░░░ the spectrum to go ░░░░░░░░ and talk to the ░░░░░░░░ leaders themselves What are ░░░░░░░░ hearing And there s ░░░░░░░░ lot of anxiety And ░░░░░░░░ guess the way I ░░░░░░░░ characterize it is the ░░░░░░░░ is if these tariffs ░░░░░░░░ as big as what ░░░░░░░░ threatened on the U ░░░░░░░░ side and if there ░░░░░░░░ massive retaliation and then ░░░░░░░░ there s counter retaliation ░░░░░░░░ it might send us ░░░░░░░░ to the kind of ░░░░░░░░ that we saw in ░░░░░░░░ and 22 when inflation ░░░░░░░░ raging out of control ░░░░░░░░ it could send us ░░░░░░░░ to the supply disruptions ░░░░░░░░ the form that we ░░░░░░░░ in 2020 beginning of ░░░░░░░░ and nobody wants to ░░░░░░░░ back there So I ░░░░░░░░ you can see why ░░░░░░░░ s this expression of ░░░░░░░░ collectively across the board ░░░░░░░░ So, what happens?”