Newhouse on Trump Tariffs Pt 1
So, many of them, like Representative Dan Newhouse, signed on to a letter to the White House expressing their concerns ...
NEWHOUSE ... "I joined a large number of Republicans in a letter to the President expressing concern that that kind of a broad approach on global tariffs on both aluminum and steel really could have some negative impact in unintended consequences as it relates to our businesses and our consumers."
Newhouse says the plan leaves many innocent countries open to the crossfire ...
NEWHOUSE ... "I also understand that there are a lot of the trading partners that we have in the world that do play by the rules and to, in my mind, unfairly target them in a broad approach really could set off a trade war that could impact many of the things we produce through retaliatory kinds of trade actions on their part and certainly could increase the costs of purchasing goods for our consumers."
Newhouse says the tariffs are essentially taxes on trade that, in the end, are passed on to American producers and consumers, resulting in higher prices. He says the tariffs could undo a lot of the good done by the recent tax reforms.
Tune in tomorrow for more on this Republican response to the Trump tariffs.