Charles Payne on Tariffs: Trump’s Willing Push Back Against Conservatism If It Will Help Workers

RUSH EXCERPT:

PAYNE: "That’s the fear out the gate. The market was down yesterday and another session, the market reeling from the terrorist curve. He wants to level the playing field from American workers. Tariffs simply don’t work and could lead to a full blown trade war. You had names like cat biller, Boeing using metal and America’s biggest exporters seeing shares coming under pressure, saber rattling and warnings, Sweden delaying a $250 million plan to expand a Springfield Tennessee plant, and Toyota motors warning prices will go higher. The European Union, $3.5 billion in tariffs on U.S. importants. I should note to you, 1.2% of the total amount we exported to the EU last year. The plan hasn’t been rolled out. It could be focused to benefit Alcoa which has asked Canada to be exempt from the actions. There are others out there saying there is too much fear mongering going on. Dan Domingo says it’s a nonissue. General Motors saying we need to better understand the details and support trade policy to win and grow jobs in the United States. Neil, shares were lower as the broad market has a rebound to the close. There seems to be a general feeling that a tariff action by the administration would be aimed at China well known for dumping cheap industrial metal in the United States and around the world."