The anchor of Fox Business, Larry Kudlow, reportedly enthusiastically praised the tariff plan proposed by President Donald Trump, stating that “one-time price increases” will only be “temporary.”
It was on Friday that Kudlow, who had previously worked as an economic counselor for Trump’s first administration, joined Sandra Smith, an anchor for Fox News, to discuss the impending tariffs that Trump is planning to implement, which are scheduled to take effect on Saturday.
Karoline Leavitt, the press secretary for the White House, said earlier on Friday that the tariffs of 25% on imported products from Canada and Mexico, as well as a duty of 10% on imports from China, will go into effect as planned this weekend.
In his defense of Trump’s position, Kudlow noted that tariffs are only one component of Trump’s overall economic plan.
He also stated that Trump’s reduction of regulations and expansion of markets, such as the energy sector, will compensate for any adverse consequences that tariffs may have.
“You might see some one-off price increases for things, okay? But that’s all. They’re temporary. The important point on that is you look at the president’s entire program, he is cutting tax rates to spur investment, more energy production, deregulation of businesses. Okay, let’s just stop right there. Everyone of those — oh, wait, let me say this too, he is going to shrink the size of the government and the bureaucracy and federal spending.” Kudlow said.
“Now, every one of of those is counter-inflationary and pro-growth. So all I’ll say is it must be at the president believes Mexico and Canada are not living up to their national security commitments on closing the border and preventing fentanyl and drugs across the border.” he added.
“Do you think there will be some sort of 11th hour deal here? Do you think Mexico and Canada come and say —” Fox host Sandra Smith said in response.
“I don’t want to speculate. I don’t have any information. People think I might, but I don’t. I know there are talks in the White House. But the point I want to make is if you look at his entire program, it is counter inflationary. We have to stand up. We must stand up on national security grounds on the border.” Kudlow said in response.
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