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“… "The U. S. Consumer message is that tariffs are tax cuts," Navarro insisted. "Tariffs are jobs. Tariffs are national security. Tariffs are great for America. Tariffs will make America great again."
"I want to clarify," Bream interrupted, "when you say a tax cut, how exactly is that going to work?"
"First of all, we're going to raise about a hundred billion dollars with the auto tariffs alone," Navarro replied. "What we're going to do is, in the new tax bill that has to pass, it absolutely has to pass, we're going to provide tax benefits, tax credits to the people who buy American cars."
"This is a genius thing that President Trump promised on the campaign trail," he added. "In addition, the other tariffs are going to raise about six hundred billion dollars a year, about six trillion over a ten-year period, and we're going to have tax cuts."
"Trust in Trump," Navarro said. …”
“… "The U. S. Consumer message is that tariffs are tax cuts," Navarro insisted. "Tariffs are jobs. Tariffs are national security. Tariffs are great for America. Tariffs will make America great again."
"I want to clarify," Bream interrupted, "when you say a tax cut, how exactly is that going to work?"
"First of all, we're going to raise about a hundred billion dollars with the auto tariffs alone," Navarro replied. "What we're going to do is, in the new tax bill that has to pass, it absolutely has to pass, we're going to provide tax benefits, tax credits to the people who buy American cars."
"This is a genius thing that President Trump promised on the campaign trail," he added. "In addition, the other tariffs are going to raise about six hundred billion dollars a year, about six trillion over a ten-year period, and we're going to have tax cuts."
"Trust in Trump," Navarro said. …”
Past tense, not present participle. I think it's clear he threw away that chance. Stagflation seems to be the most common prediction for the rest of the year. If stagflation is avoided -- i.e. best case scenario for them -- it will be for a weak economy, a long-term reduction in growth rates and a semi-permanent economic anemia.
Honestly, he is throwing away a chance at a booming start to his term with this tariff whiplash — the market was primed to embrace presumed pro-growth policies but instead he is using up a ton of good will and economic potential on magical thinking about tariffs, opening a worldwide trade war and erratic economic and foreign policy.