The Trump administration’s senior counselor for trade and manufacturing, Peter Navarro, suggested on Sunday that the tariffs on automobiles, which are set to go into effect “on or after April 2,” would raise $100 billion, ostensibly in a year.
Responding to a question from “Fox News Sunday” that the tariffs, according to Investopedia, would raise car prices for consumers, Navarro discounted the concern, offering instead that tariffs represent “tax cuts.” They are “jobs,” he added, “tariffs are national security; tariffs are great. For America, tariffs will make America great again.”
Addressing the concern of tariffs among consumers, Navarro pointed to “when we imposed historic tariffs on China, steel, aluminum; the same people — Investopedia and on down — who were saying ‘There’s going to be inflation and recession,’ were dead wrong. We got price stability and prosperity, and we’re gonna get that again.
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