CNN’s Richard Quest: Tariffs Are ‘One Giant Experiment’

BASH CNN s Richard ░░░░░░░░ joins us now Richard ░░░░░░░░ good to see you ░░░░░░░░ have been talking for ░░░░░░░░ and months and months ░░░░░░░░ the uncertainty that has ░░░░░░░░ with the on again ░░░░░░░░ again tariffs or at ░░░░░░░░ promises or threats to ░░░░░░░░ tariffs in place It ░░░░░░░░ as though that certainty ░░░░░░░░ now here How is ░░░░░░░░ world going to react ░░░░░░░░ It is one giant ░░░░░░░░ That s the best ░░░░░░░░ to describe it Donald ░░░░░░░░ you re right when ░░░░░░░░ say he s always ░░░░░░░░ to do it and ░░░░░░░░ the experiment has quote ░░░░░░░░ live Billions of dollars ░░░░░░░░ be going into the ░░░░░░░░ S Treasury But where ░░░░░░░░ that money coming from ░░░░░░░░ at the moment it ░░░░░░░░ coming mainly from the ░░░░░░░░ the importers the manufacturers ░░░░░░░░ we are starting to ░░░░░░░░ it being passed on ░░░░░░░░ the consumer More and ░░░░░░░░ companies are saying they ░░░░░░░░ no longer just eat ░░░░░░░░ tariff You know when ░░░░░░░░ tariff was 10 percent ░░░░░░░░ 15 percent it becomes ░░░░░░░░ Look at these numbers ░░░░░░░░ you are buying something ░░░░░░░░ Switzerland or from Brazil ░░░░░░░░ you ve got a ░░░░░░░░ of 39 percent 50 ░░░░░░░░ 30 percent you can ░░░░░░░░ expect the producer the ░░░░░░░░ the exporter to eat ░░░░░░░░ tariff consistently No eventually ░░░░░░░░ it is going to ░░░░░░░░ through to the consumer ░░░░░░░░ think the Commerce secretary ░░░░░░░░ right What I will ░░░░░░░░ is you know where ░░░░░░░░ the 500 pound gorilla ░░░░░░░░ Wherever it wants to ░░░░░░░░ that s what the ░░░░░░░░ S has basically done ░░░░░░░░ said we re the ░░░░░░░░ market You want to ░░░░░░░░ it You want to ░░░░░░░░ here This is the ░░░░░░░░ BASH And I just ░░░░░░░░ to underscore the point ░░░░░░░░ you re making here ░░░░░░░░ is that you know ░░░░░░░░ are a lot of ░░░░░░░░ who are saying hoping ░░░░░░░░ in the case of ░░░░░░░░ White House predicting that ░░░░░░░░ that we are going ░░░░░░░░ see has already been ░░░░░░░░ into the economy with ░░░░░░░░ to the to the ░░░░░░░░ on this What you ░░░░░░░░ saying is not so ░░░░░░░░ Sorry I had to ░░░░░░░░ shaking my head even ░░░░░░░░ you re asking the ░░░░░░░░ and I could see ░░░░░░░░ you were going No ░░░░░░░░ not Not even close ░░░░░░░░ the reason I say ░░░░░░░░ firstly remember it s ░░░░░░░░ structured so it doesn ░░░░░░░░ all hit at once ░░░░░░░░ instance anything on a ░░░░░░░░ up until last night ░░░░░░░░ tariff free provided it ░░░░░░░░ here by October So ░░░░░░░░ ve got these various ░░░░░░░░ you like breaker circuits ░░░░░░░░ we had lots of ░░░░░░░░ being sent in advance ░░░░░░░░ the tariffs We ve ░░░░░░░░ lots of measures being ░░░░░░░░ We ve got lots ░░░░░░░░ exceptions But eventually look ░░░░░░░░ ve spoken to so ░░░░░░░░ economists more PhDs than ░░░░░░░░ can shake a stick ░░░░░░░░ and they all say ░░░░░░░░ this is going to ░░░░░░░░ an economic effect It ░░░░░░░░ not a question of ░░░░░░░░ it s just a ░░░░░░░░ of when.”