Douglas Holtz-Eakin on Expired Tariffs Deadline: This Is a $350B Tax Increase on American Families and Businesses

RUSH EXCERPT:
HOLTZ-EAKIN: "Didn’t there are three important things we can learn already. Number one the administration want to tout success in the process how the president isolated each country and got them to agree to a deal that U.S. gave up very little. In the end we did not reach deals with China, Canada, Mexico and India and those are our letter largest trading partners so the process did not yield great clarity on the shape of the trade relations and that’s an important point. The second is that you should evaluate the policy what that president has accomplished to raise the tariff rate hundred 2%. And we shall now see how that plays out with the economics of reports that suggested tariffs are taken their toll. And finally over longer periods of time this gives other countries great incentive to establish trade relations to shape the global trade around the U.S. and not through it. That U.S. loses if that gets cemented into place."