'A tax on Americans': Ex-Trump official warns he's playing with fire on economic policy
Former Donald Trump director of legislative affairs Marc Short told CNN on Monday that American consumers should be ready to pay more for goods thanks to the president's actions.
During an interview with host Kate Bolduan, Short was asked about Trump's expected announcement that he's slapping 25 percent tariffs on all imported steel and aluminum. He said that the president seems convinced not only that tariffs are good ways to extract concessions from American allies, but are policies that will make the country richer.
In reality, he said, the people who will pay for the tariffs are American consumers.
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"This administration, the president has a set of advisers who just are far more committed to the economic theory that tariffs work, not just the national security theory, but also the economic theory, they believe that this will generate revenue," he said. "Again, it's important to remember it's the American importer that pays that fee and so it's actually a tax on Americans and it raises consumer prices."
Short also believed that Trump's efforts to disrupt international trade partnerships could have serious geopolitical implications going forward.
"It's going to force our trading partners to look elsewhere, which I think has national security implications," he said. "But I think it also could generate, I think, significant rattling to the stock market that has so far... been very excited about Trump's presidency because of the deregulatory and tax perspectives."
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