A secret document prepared for the Trump White House confirms his tariffs will hurt the U.S. economy. But Trump is still pushing his bad, job-killing idea.
An unreleased internal White House analysis of Trump’s trade agenda found that the tariffs he supports will hurt the U.S. economy.
And the analysis proves the Trump team is fully aware their policy is harmful but has chosen to embrace it to appease Trump himself.
The New York Times reports that the data, put together by the White House Council of Economic Advisers, is circulating internally at the same time Trump is putting tariffs in place and continuing to use his bully pulpit to push for them.
Trump decided to put tariffs on steel and aluminum imports, which will hit Canada, Mexico, Japan and the European Union. He has also threatened China with tariffs.
In response, many of those nations have imposed or threatened tariffs on American goods in return.
Those tariffs are already having an impact on Americans, including farmers. Many of those farmers, who come from states that supported Trump, are seeing the costs of their exports increase which in turn hurts their sales.
Republican officials are panicking about the political blowback to Trump’s decisions, as many of them will be on the front lines of the response.
Senate Republicans have already begun discussing legislation that would limit Trump’s ability to impose tariffs.
Trump inherited an economy in recovery, thanks to policies supported by President Barack Obama. Now he is focused on a trade war that will hurt American jobs and get in the way of economic recovery.
Trump has the warning on his desk and is choosing deliberately to ignore it.