Breitbart economics editor John Carney said Thursday on Fox Business Network’s “Kudlow” that former President Donald Trump’s trade philosophy was about “reciprocity.”
Host Larry Kudlow said, “You wrote this great piece, March 28 a couple days ago, we talked about it on the radio, “Tariff-mageddon Is Back.” You have all these mostly people on left although some on right, that you could have cited but you did not that tariffs are the end of the world. They cause consumer decline and they destroy the economy. So, Mr. Trump, using tariffs as a important negotiating tool against China. I’m a free trader but I completely supported China tariff effort because we have work to do with their unfair practices. They were stealing intellectual property and forcing technology transfers. The end of economic world did not come, it did not come.”
He added, “Inflation was tiny, rock bottom let start there.”
Carney said, “Right, they said, right from the beginning, this is going to cause inflation. It will driving up the price of cars, it will drive up the prices of televisions. That did not happen. We had almost no inflation throughout Trump years. In particular we had no inflation on very things that tariffs were place on.”
He added, “I think one of most important things President Trump used to say a lot was the word reciprocity. I like that words reciprocity. If you are fair with us, we will be fair with you, but if you put up trade barriers from the United States then we will put them up against you. You have do that. If you play the sucker at the card table everyone will cheat you. That is the role that United States has been put in.”
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