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In a conversation with CNN's Kate Bolduan, Short addressed Trump's anticipated decision to impose a 25 percent tariff on all imported steel and aluminum. He noted that the President appears to believe that such tariffs are not only effective in securing concessions from American allies but also beneficial in enhancing the nation's wealth.
However, Short argued that the reality is quite different, as the financial burden of these tariffs will ultimately fall on American consumers. "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 explained. "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," he added, as reported by Raw Story.
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Short also expressed concerns about the broader implications of Trump's trade policies, particularly in terms of international relations and market stability. "It's going to force our trading partners to look elsewhere, which I think has national security implications," he remarked. Furthermore, he warned of potential volatility in the stock market, which has so far reacted positively to Trump's presidency due to his deregulatory and tax policies.
As the administration continues to navigate the complexities of international trade, the potential impact on both domestic consumers and global partnerships remains a critical issue.
