Trump-backing conservative economist Stephen Moore on Monday sounded the alarm on a potentially devastating trade war that could take place if Canada and the European Union decide to retaliate against President Donald Trump’s proposed steel and aluminum tariffs.
Speaking with CNN, Moore criticized Trump’s decision to announce the president’s tariff announcement and said that America faced real danger of sparking a disruptive battle over trade that could end up raising prices for consumers across the board.
“We’re at a very dangerous moment right now,” Moore said. “I do think it would be a big mistake if the Europeans and Canada and China retaliate because, knowing Donald Trump as we all do, this is a guy who doesn’t back down and he’s a counter-puncher. If they start imposing higher tariffs then you’ll get an escalation and that’s how trade wars do start.”
Moore said that he has no problem with Trump taking some retaliatory actions against China, but he said it makes no sense to slap across-the-board steel tariffs on allied countries, especially if he does it on the basis of national security.
“This is the first act — I hope cooler heads prevail and that Donald Trump will maybe just impose these steel tariffs on China,” he said. “There’s no reason we need to have steel tariffs on Mexico and Canada if it’s a national security issue. Is anybody worried about Canada invading the United States?”
Watch the video below.