Analyst Gets Shoutout From Trump After Telling Fox Tariffs Could Raise Some Prices: ‘Not Going To Be As Bad As Many People Think’
Fox Business analyst Phil Flynn received a shoutout from President Donald Trump after admitting tariffs on Canada and Mexico could raise some prices though he argued these costs will be “offset.”
Trump’s 25% tariffs on Mexico and Canada are set to go into effect on Saturday, as well as a 10% tariff on imported goods from China. Trump has cited the flow of illegal immigration and drugs as the reason for the tariffs, which have concerned some economists who argue consumers could end up fronting the cost.
Flynn joined Rachel Campos-Duffy on Fox & Friends Weekend on Saturday and predicted that gas prices could be where Americans see costs go up due to the tariffs due to the large amount of crude oil America purchases from Canada. Trump has said he has not made a decision on tariffs on Canada, but has promised tariffs on gas and oil are coming this month.
Flynn argued that a 10% increase in gas prices, or a larger bump in diesel, will be “offset” by Trump’s other economic policies, like growing US production and slashing regulation on the oil industry.
Flynn said:
“The good news is that the US produces as lot of oil and even though Canadian oil and Mexican oil is preferred, it’s not going to be as bad as a lot of people think. We might see gasoline prices going up about 10%. I’m more concerned about diesel because it could go up 30%, but you have to offset that just a little bit with the fact that less regulation on the oil industry, a growing economy is going to offset those costs so it’s not necessarily inflationary even if prices going up if the economy does better so I don’t think the average American is going to feel it too bad.”
Trump was happy enough with Flynn’s Fox appearance that he gave him a shoutout on Truth Social.
“Ellie Cohanim on Israel, and Phill Flynn on Tariffs, were GREAT on Fox & Friends this morning. Real “Pros!” DJT,” he wrote.
Flynn argued the US needs to “get back to sanity” and that Trump’s strategy is to be more aggressive in global trade.
“I think he wants to be treated fairly. Let’s face it, the United States in the global trade has been kicked and dragged around the street. China hasn’t streeted us fair, Mexico hasn’t treated us fairly, neither has Canada,” he said. “He wants to level the playing field.”
Watch above via Fox News.
