Toomey on Tariffs: Trump Has a Profoundly Misguided Notion About Trade and in Particular Trade Deficits
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RUSH EXCERPT:
TOOMEY: "Well, Paul, I think he has a profoundly misguided notion about trade and in particular trade deficits. If reciprocal tariffs, if his posturing are were meant to driv tariffs to zero and mutual free trade that would be one thing would be arguing whether it’s the right tax to get there but that does is not his goal. He is a blown up you mca which is mostly zero tariff regime. He does not really want reciprocity. Think about Japan charges its consumers zero on imported American pickups. We charge our consumers 25% on imported Japanese pickups or pickups or anywhere for that matter. So, with the president believes I think it is that tariffs will reduce our trade deficit and will drive Americans to purchasing domestic products. And somehow it will enrich us in the process. It is extremely misguided but I think that’s where it’s coming from."
