In an unusual televised exchange on Fox Business, Senator Ted Cruz distanced himself from pro-Trump tariff policies. He emphasized his opposition to tariffs while discussing their potential impact on tax cuts with host Larry Kudlow. Cruz pointed out that rather than assuming tariffs would remain, the focus should be on achieving reductions in tariffs from trading partners. He expressed a hope for significant tax cuts for the middle class funded by projected tariffication revenues but insisted on a balanced economic approach.
I think it is a mistake to assume that we will have high tariffs in perpetuity. I don’t think that would be good economic policy.
And the announcement yesterday, look, time is going to tell in the next month or two or three what happens if the result of yesterday’s announcement is a lot of our trading partners across the globe dramatically reduce the tariffs they charge on U.S. goods and services.
Collection
[
|
...
]