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President Trump’s new round of tariffs is bringing new skepticism from critics.
After months of tariff implementations, threats and negotiations over trade, the president has implemented new tariffs over other countries' policies, against Brazil over its treatment of opposition leader Jair Bolsonaro, and against Canada over fentanyl trafficking.
“Basic economics would say that you shouldn’t be raising tariffs and you should let the markets work. But, of course, there are political challenges,” said Analyst Vance Ginn, “and when you’re dealing with communist countries like China, and others, we’ve got to be concerned. And that’s where the tension is right now. And hopefully we can get more certainty in the economy soon.”
The president has used tariffs for disputes other than trade in the past. Earlier this year he proposed them in a dispute with Colombia over repatriation flights. An advisor during the first Trump presidency himself, Vance says he hopes disputes can be ironed out, and trade with other countries made fair enough, that tariffs ultimately end up around zero. He says he looks forward to plenty of agreements, treaties, accommodations…
Deals.
“If these trade deals are going to happen, let’s make them happen as quickly as possible,” he said, “and make sure we have lower trade barriers than before. That’s better for the U.S. economy.”