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

DEA targets drug smuggling corridors in work with Mexico

DEA targets drug smuggling corridors in work with Mexico

By Brett RowlandThe Center Square Drug Enforcement Administration officials plan to work with their counterparts in Mexico to target the gatekeepers of the smuggling corridors between the two nations. The...
Planned restart of California oil production faces legal challenges

Planned restart of California oil production faces legal challenges

By Alton WallaceThe Center Square Oil and gas production resumed on May 15 that had been out of service for 10 years after an oil spill off the California coast,...
Derailment disrupts train service for Chicago, New York, Washington, Miami

Derailment disrupts train service for Chicago, New York, Washington, Miami

By Alan Wooten | The Center SquareThe Center Square (The Center Square) – Passenger train service involving routes to Chicago, Miami and New York is on hold because of a...
Second Oval Office meeting with Zelenskyy notably different in tone

Second Oval Office meeting with Zelenskyy notably different in tone

By Morgan SweeneyThe Center Square On the heels of an important meeting between President Donald Trump and Russian President Vladimir Putin, Ukrainian President Volodymyr Zelenskyy met with Trump in the...
Senate pledges economic support for Russia-Ukraine deal as govt funding talks stall

Senate pledges economic support for Russia-Ukraine deal as govt funding talks stall

By Thérèse BoudreauxThe Center Square As Republicans and Democrats remain deadlocked over how to fund the government for fiscal 2026 and prevent a shutdown, Senate leaders remain united on one...
Democratic candidates focus on national politics in campaign for U.S. Senate

Democratic candidates focus on national politics in campaign for U.S. Senate

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – Illinois’ Democratic Party candidates for U.S. Senate have focused their campaigns on opposition to Republicans and President...
Arizona Chamber praises new interstate natural gas pipeline

Arizona Chamber praises new interstate natural gas pipeline

By Chris WoodwardThe Center Square The Arizona Chamber of Commerce and Industry is excited about the future, thanks to a deal between state utilities and Transwestern Pipeline Co. The company...
Dems oppose Trump's bid to end mail-in ballots, voting machines

Dems oppose Trump’s bid to end mail-in ballots, voting machines

By Thérèse BoudreauxThe Center Square Casting a ballot may look different for millions of American voters in the 2026 midterm elections if Republican-led states follow President Donald Trump’s wish to...
After two weeks fleeing Texas, House Democrats return, quorum reached

After two weeks fleeing Texas, House Democrats return, quorum reached

By Bethany BlankleyThe Center Square After two weeks fleeing the state, many Texas House Democrats returned, and a quorum was reached on Monday. More than two dozen Democrats still didn’t...
Trump says court's tariff decision could lead to 'catastrophic' collapse

Trump says court’s tariff decision could lead to ‘catastrophic’ collapse

By Brett RowlandThe Center Square Attorneys for President Donald Trump told judges that if they yank the president's tariff authority, "catastrophic consequences" would ensue, including a deep economic collapse not...
Trump: Zelenskyy could end Russia-Ukraine war ‘if he wants to’

Trump: Zelenskyy could end Russia-Ukraine war ‘if he wants to’

By Caroline BodaThe Center Square Ahead of the summit with Ukrainian President Volodymyr Zelenskyy and other European leaders in Washington on Monday, President Donald Trump said Ukraine should give up...
$750 million facility to protect Texas cattle, wildlife from screwworm threat

$750 million facility to protect Texas cattle, wildlife from screwworm threat

By Bethany BlankleyThe Center Square Responding to calls by state lawmakers and the agricultural industry for immediate action to be taken to protect cattle and wildlife from a parasitic fly,...
Chicago posts fewest homicides since 2016, arrests rate also declines

Chicago posts fewest homicides since 2016, arrests rate also declines

By Glenn Minnis | The Center Square contributorThe Center Square (The Center Square) – Illinois state Rep. Kam Buckner, D-Chicago, studies Chicago’s somewhat mixed-bag crime trend data with little question...
Three years later, Inflation Reduction Act blamed for higher Medicare costs

Three years later, Inflation Reduction Act blamed for higher Medicare costs

By Tom JoyceThe Center Square This past weekend marked the third anniversary of the Inflation Reduction Act, signed into law by former President Joe Biden in 2022. While the law...
Illinois quick hits: Prosecutors charge two more in Tren de Aragua case; Senate Energy and Public Utilities Committee meets today; Illinois Little League team loses in World Series

Illinois quick hits: Prosecutors charge two more in Tren de Aragua case; Senate Energy and Public Utilities Committee meets today; Illinois Little League team loses in World Series

By Jim Talamonti | The Center SquareThe Center Square Prosecutors charge two more in Tren de Aragua case State prosecutors have charged two more migrants as part of an investigation...