Sen. John Kennedy, R-La., told Newsmax on Wednesday that no one truly knows what the impact of President Donald Trump’s tariffs will be.
“America is the wealthiest country in all human history. We buy a lot of stuff. Every business and every foreign country wants to sell stuff to Americans,” the Louisiana Republican said on “Rob Schmitt Tonight."
“What the president is saying is, if you want to sell stuff to Americans, move your business to America and hire Americans and contribute to our economy, don't just sell stuff. In the long run, he's right. But in the long run, we're all dead.”
Kennedy said that the short-term impacts matter as well and he has heard some economists say it will expand the economy while others have said it will tank the economy.
“My experience with Washington economists is that they make those late-night psychic hotlines look respectable,” Kennedy said. “Nobody knows the impact of these tariffs. We're just going to have to wait and see.”
The senator pointed out that the tariffs Trump implemented in his first term did not lead to inflation.
“It may not this time,” Kennedy said. “Am I predicting that it will or won't? No. I'm going to say it again. We're in uncharted waters and we don't know. And anybody who tries to tell you that they know what the short-term impact is going to be is just lying. Either that or they're selling deep stupid.”
Kennedy said that if Canada wants fair trade with the United States, it should reduce its tariffs.
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Sam Barron ✉
Sam Barron has almost two decades of experience covering a wide range of topics including politics, crime and business.
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