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

WATCH: ‘Partisans’ who want to should ‘get up and move’ from Illinois, Pritzker says

WATCH: ‘Partisans’ who want to should ‘get up and move’ from Illinois, Pritzker says

By Greg Bishop | The Center SquareThe Center Square (The Center Square) – If you’re not willing to stick around and help make the state better, Illinois Gov. J.B. Pritzker...
Green-Garden-Township-Graphic.1

Green Garden Township Debates New Land Use Plan during Workshop, Pushes Potential Vote to October

Article Summary: The Green Garden Township Board reviewed a new draft Land Use Plan designed to protect the area's rural character while defining commercial and industrial corridors for the first...
Victims identified in Minneapolis Catholic school shooting

Victims identified in Minneapolis Catholic school shooting

By Jon StyfThe Center Square “As a family, we are shattered, and words cannot capture the depth of our pain.” Those are the words of the parents of 10-year-old Harper...
Pentagon to build new task force to counter drone threats

Pentagon to build new task force to counter drone threats

By Brett RowlandThe Center Square The Pentagon is creating a new task force to counter drone threats and keep U.S. airspace safe. Defense Secretary Pete Hegseth said the Department of...
'Horrendous' religious freedom violation leads to payout by Chicago Public Schools

‘Horrendous’ religious freedom violation leads to payout by Chicago Public Schools

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – A court-approved settlement of over $2.6 million is being paid to 207 former Chicago Public School students...
Extended Secret Service protection canceled for Kamala Harris

Extended Secret Service protection canceled for Kamala Harris

By Sarah Roderick-FitchThe Center Square More than seven months after leaving office, President Donald Trump is revoking the taxpayer-funded Secret Service protection detail of former Vice President Kamala Harris. Former...
Du Quoin State Fair gets $50M as senator defends two state fairs in Illinois

Du Quoin State Fair gets $50M as senator defends two state fairs in Illinois

By Catrina Barker | The Center Square contributorThe Center Square (The Center Square) – The Du Quoin State Fairgrounds have received over $50 million in upgrades, part of Gov. J.B....
WATCH: Pritzker alleges Trump election interference; tells disgruntled residents to move

WATCH: Pritzker alleges Trump election interference; tells disgruntled residents to move

By Greg Bishop | The Center SquareThe Center Square (The Center Square) – In today's edition of Illinois in Focus Daily, The Center Square Editor Greg Bishop shares where there...
Illinois quick hits: Foreign national indicted for fraud; Chicago Public Schools budget approved

Illinois quick hits: Foreign national indicted for fraud; Chicago Public Schools budget approved

By Jim Talamonti | The Center SquareThe Center Square Foreign national indicted for fraud A foreign national has been indicted in U.S. District Court in Chicago for allegedly defrauding numerous...
CA Supreme Court rejects GOP bid to stop redistricting

CA Supreme Court rejects GOP bid to stop redistricting

By Dave MasonThe Center Square The California Supreme Court rejected an emergency Republican petition to take congressional redistricting off the Nov. 4 ballot. "The petition for writ of mandate and...
Lawsuit links CA teen's suicide to artificial intelligence

Lawsuit links CA teen’s suicide to artificial intelligence

By Esther WickhamThe Center Square The parents of a California teenager who committed suicide sued OpenAI, alleging that ChatGPT taught him how to harm himself, according to a lawsuit the...
fall-festival-b2adf834-992f-4ebd-ac09-edfc1d11b40a-circle

Your Ultimate Guide to the 2025 Frankfort Fall Fest: Everything to Know for the Nationally-Ranked Event

FRANKFORT, IL – The heart of historic downtown Frankfort is set to transform into a vibrant hub of art, music, and community spirit for the 57th annual Frankfort Fall Festival. Running...
HHS, Department of Education announce nutrition reforms

HHS, Department of Education announce nutrition reforms

By Esther WickhamThe Center Square The U.S. Department of Health and Human Services, along with the U.S. Department of Education, announced this week an initiative urging medical education organizations to...
White House appoints interim CDC director; standoff continues with former director

White House appoints interim CDC director; standoff continues with former director

By Morgan SweeneyThe Center Square The White House has appointed Department of Health and Human Services Deputy Secretary Jim O’Neill as interim director for the Centers for Disease Control and...
WATCH: Pritzker claims Trump plans election interference with troop deployment

WATCH: Pritzker claims Trump plans election interference with troop deployment

By Greg Bishop | The Center SquareThe Center Square (The Center Square) – Illinois Gov. J.B. Pritzker says President Donald Trump only wants troops on the ground to interfere in...