(PartiallyPolitics.com) – On Wednesday the White House criticized former President Donald Trump’s proposal to impose a 10 percent tariff on foreign imports arguing that it would lead to a surge in prices.
Andrew Bates, the Deputy Press Secretary, noted in a statement that President Biden opposed this plan which would lead to higher inflation and prices and would hurt American families. As he pointed out, even the economists of the Trump administration had warned about what the effects of this type of Agenda would be.
Bates preceded by stating that the tariff tax increase along with a “trickle-down tax welfare for rich special interests” would just lead to more inflation while also harming the country’s economic growth.
The statement from the White House was released around one week after Trump’s interview with Larry Kudlow, a Fox Business Network Host, who had asked the 2024 GOP presidential candidate about the economic policies he would pursue for his second term.
Trump claimed that the first thing that he would implement would be to force all companies that “dump their products” in the country to pay a 10 percent tariff. He argued that this import tariff was not going to halt business but at the same time would help generate “a lot of money.”
The Trump administration was heavily focused on the imposition of tariffs, which had led to an escalation in the trade wars between the U.S. and other countries, including China. As a result of the tariffs, Beijing also introduced a tariff on U.S. products which had a dire effect on American farmers. Following this decision, the U.S. government was forced to provide additional aid to farmers.
On Wednesday the White House drew a comparison between the proposal that Trump brought forward and President Biden’s record, pointing out that the President has managed to decrease inflation in the last year.
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