Trade expert calls on Trump to eliminate all tariffs

Trade expert calls on Trump to eliminate all tariffs

Spread the love

A trade expert is calling on President Donald Trump to eliminate all tariffs after the president exempted more than 200 food products to reduce consumer prices.

Even after the exemptions, Trump has defended his use of broad tariffs, which he says will bring back lost manufacturing jobs and shift the income tax burden away from Americans. However, with consumers facing higher prices at the grocery store, Trump took action Friday he said will reduce prices for Americans. For months, Trump and the White House have insisted tariffs wouldn’t affect prices.

Scott Lincicome, the vice president of general economics at the Cato Institute, said Trump didn’t go far enough to help consumers.

“The administration’s reduction in U.S. tariffs would be a welcome relief for American consumers and the economy more broadly, but let’s not kid ourselves here: The administration imposed these same tariffs just months ago, insisting they would not raise consumer prices. Many other unilateral tariffs remain in place, imposing similar harms on American families and companies,” he said.

Lincicome said frequent changes to tariffs make planning a nightmare for businesses. He called for Trump to eliminate all tariffs.

“The constant tariff changes make planning budgets, payrolls, and investments all but impossible,” he said. “And, as last week’s Supreme Court proceedings demonstrated, the tariffs’ legality is dubious at best. The best course of action here – for consumers, companies, the US economy, and the world – is for the administration to eliminate all of these tariffs, instead of sporadically nixing a few of the most politically sensitive ones because economic reality dared to intrude on their misguided trade adventurism.”

Trump defended his tariffs on Monday and said he would send tariff dividends to Americans in late 2026. That would likely need congressional authorization. Early estimates also suggest the proposed tariff rebate checks would cost more than the import taxes generate in revenue.

Earlier this week, White House spokesman Kush Desai told The Center Square that the groundwork for the tariff exemptions was laid back in September and additional exemptions are not expected.

“The Trump administration is committed to pursuing a nimble, nuanced, and multi-faceted strategy on trade and tariffs,” he said. “President Trump’s tariffs are levelling the playing field for American workers and securing trillions in investments to make and hire in America, and Americans can rest assured that our America First trade strategy will continue to help restore American Greatness.”

Trump upended global trade earlier this year by imposing a 10% base tariffs on imports from every country, plus additional specific nation-specific rates.

A legal challenge to Trump’s authority to impose tariffs without Congressional approval remains pending before the Supreme Court. Justices appeared skeptical of the broad tariff authority Trump claimed during oral arguments in the case on Nov. 5.

A Congressional Budget Office report from August estimated tariffs could bring in $4 trillion over the next decade. That CBO report came with caveats and noted that tariffs will raise consumer prices and reduce the purchasing power of U.S. families.

Events

No events

Leave a Comment





Latest News Stories

94% of sanctioned scholars suffered from free speech attacks

94% of sanctioned scholars suffered from free speech attacks

By Tate MillerThe Center Square A Foundation for Individual Rights and Expression survey shows that 94% of sanctioned university scholars have experienced a negative impact following the attacks on their...
Illinois soybean farmers face uncertainty amid MAHA push against seed oils

Illinois soybean farmers face uncertainty amid MAHA push against seed oils

By Catrina Barker | The Center Square contributorThe Center Square Illinois soybean farmers face a potential market shakeup if public sentiment, and eventually policy, turns against seed oils, experts warn....
Family-based visa quotas cause system backlogs

Family-based visa quotas cause system backlogs

By Andrew RiceThe Center Square One of the most prevalent ways for immigrants to gain legal status in the United States is through family-based visas. However, backlogs in the system...
Death threats against ICE officers up by 8,000%, DHS says

Death threats against ICE officers up by 8,000%, DHS says

By Bethany BlankleyThe Center Square Death threats against U.S. Immigration and Customs Enforcement officers are up by 8,000% compared to the same timeframe last year, the Department of Homeland Security...
After 50 years of struggles to save Spotted Owl, FWS plan is to kill 500k Barred Owls

After 50 years of struggles to save Spotted Owl, FWS plan is to kill 500k Barred Owls

By Bethany BlankleyThe Center Square The Spotted Owl is again in the headlines again. U.S. Sen. John Kennedy, R-La., filed a resolution to reverse a Biden administration plan to kill...
Association says housing aid to continue through December

Association says housing aid to continue through December

By Madeline ShannonThe Center Square Federally-funded housing assistance will continue to be paid through December, a national housing association director told The Center Square Friday afternoon. Previously, those who rent...
WATCH: Father of Housing First points to success; We Heart Seattle highlights failures

WATCH: Father of Housing First points to success; We Heart Seattle highlights failures

By Carleen JohnsonThe Center Square On an overcast mid-October day, just inside the Third Avenue offices of We Heart Seattle, Executive Director Andrea Suarez and two of her staff members...
Colorado sues over Space Command HQ moving to Alabama

Colorado sues over Space Command HQ moving to Alabama

By Elyse ApelThe Center Square Colorado has sued the Trump administration over its decision to move the U.S. Space Command Headquarters out of the state. Colorado Attorney General Phil Weiser...
Illinois quick hits: Pritzker to sign tax, toll increases to bail out transit

Illinois quick hits: Pritzker to sign tax, toll increases to bail out transit

By Jim Talamonti | The Center SquareThe Center Square Pritzker to sign tax, toll increases to bail out transit Gov. J.B. Pritzker says he looks forward to signing public transit...
IL Senate approves Department of Corrections director despite fierce opposition

IL Senate approves Department of Corrections director despite fierce opposition

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – Despite a myriad of ongoing issues at the Illinois Department of Corrections, state senators approved the nomination...
Report: PJM power grid electrification faces bumpy transition

Report: PJM power grid electrification faces bumpy transition

By Lauren Jessop | The Center Square contributorThe Center Square (The Center Square) – The nation’s power grid is entering a new era of soaring demand – the full extent...
Judge orders Trump to use emergency fund to disburse SNAP benefits

Judge orders Trump to use emergency fund to disburse SNAP benefits

By Andrew RiceThe Center Square A federal judge on Friday ordered the Trump administration to continue funding the Supplemental Nutrition Assistance Program, also known as food stamps, while a second...
Early morning vote advances Illinois’ 'Terminally Ill Patients Act,' sparks outcry

Early morning vote advances Illinois’ ‘Terminally Ill Patients Act,’ sparks outcry

By Catrina Barker | The Center Square contributorThe Center Square (The Center Square) – A controversial bill allowing terminally ill patients in Illinois to self-administer life-ending medication passed the legislature...
91% of U.S. veterans concerned about food assistance amid shutdown

91% of U.S. veterans concerned about food assistance amid shutdown

By Brett RowlandThe Center Square About 91% of veterans said they were concerned about losing access to food assistance because of the federal government shutdown, with Supplemental Nutrition Assistance Program...
Indiana state police working with ICE at Illinois border to secure interstates

Indiana state police working with ICE at Illinois border to secure interstates

By Bethany Blankley | The Center Square contributorThe Center Square (The Center Square) – U.S. Immigration and Customs Enforcement officers continue to arrest hundreds of drivers on interstates who are...