Breitbart economics editor John Carney said Thursday on Fox Business Network’s “Kudlow” that former President Donald Trump’s trade philosophy is about “reciprocity.”
Host Larry Kudrow said, “You wrote this amazing piece. A few days ago, on March 28th, we talked about this piece on the radio ‘Tariffmageddon Is Back.’ You could have quoted that tariffs are the end of the world, but you didn’t. They cause consumer decline and destroy the economy. In other words, Trump is using tariffs as an important negotiating tool with China. Although I am a free trader, I fully supported China’s tariff efforts as they relate to China’s unfair practices. They were stealing intellectual property and forcing technology transfers. The end of the economic world did not come, did not come. ”
He added: “Inflation was small. It was rock bottom, so let’s start there.”
Carney said, “Yes, they said from the beginning that this would cause inflation. Car prices would go up, TV prices would go up. That hasn’t happened. Throughout the Trump era, there has been very little inflation. There was no inflation, especially on things that were subject to tariffs.”
He added, “I think one of the most important things that President Trump used to say was the word reciprocity. I like the word reciprocity. If you’re fair to us, We’ll be fair to you too, but if you’re putting up trade barriers from the United States, we’ll put them up against you. You have to do it. If you play poorly at the card table, everyone will fool you. That’s the role America has been tasked with playing.”
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