Donald Trump offered simple responses to detailed questions about his economic policies as an economics expert challenged him during an appearance at a prestigious business club Tuesday.
John Micklethwait, editor-in-chief of Bloomberg News, challenged the former president to explain how his proposals would benefit the economy rather than saddle the nation with trillions of dollars in new debt, as the bipartisan Committee for a Responsible Federal Budget warned last week.
But the former president offered few details at the sitdown at the Economic Club of Chicago.
“If you add up all the promises you have made then your plans would add $7.5 trillion to the debt," Micklethwait said. "That is more than twice the total for Vice President Harris. You're on course to push debt up to 150 percent of [gross domestic product]. This is a very business-like audience, why should they trust you with that?"
He added, "What about consumers? People out there? They're going to be the big critic. Critics say your tariffs will end up being like a national sales tax because America at the moment has $3 trillion worth of imports, you're going to add tariffs to every single one of them that is going to push up the cost for all those people who want to buy foreign goods.
"It is just simple mathematics, President Trump."
"It's not," replied Trump. "It is, but not the way you figured. I was always very good at mathematics."
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The Republican presidential nominee has pushed adding tariffs to imports, which most economists agree would lead to higher inflation, but few other substantive details about his economic plans.
"We're all about growth, she's got no growth whatsoever," Trump said, referring to his opponent, Democrat Kamala Harris. "We're all about growth, and we're going to bring companies back to our country. You look, and even today as I was driving over I see these empty old, beautiful, like, steel mills and factories that are empty and falling down.
"Some have been converted to senior citizens' homes, but that's not going to do the trick. We're going to bring the companies back. We're going to lower taxes, still further for companies that are going to make their product in the U.S.A., but we're going to protect those companies when he's with strong tariffs because I'm a believer in tariffs."
"I'm not sure that you are," he said to Micklethwait. "I don't think you are, but I congratulate you and your career," he added. "But, to me, the most beautiful word in the dictionary is tariff, and it's my favorite word. It needs a public relations firm to help it, but to me it's the most beautiful word in the dictionary."
Watch a section of the conversation below or at this link.