Ex-Trump Adviser Larry Kudlow Admits Tariffs Could Bring ‘Price Increases’ For Americans
Fox Business host Larry Kudlow excitedly endorsed President Donald Trump’s tariffs plan, insisting “one-off price increases” will only be “temporary.”
Kudlow, who previously served as an economic advisor in Trump’s first administration, joined Fox News anchor Sandra Smith on Friday to discuss Trump’s incoming tariffs, which go into effect on Saturday.
White House Press Secretary Karoline Leavitt confirmed earlier on Friday that the 25% tariffs on imported goods from Canada and Mexico, as well as a 10% tariff on China goods, will go into effect as planned. Leavitt dismissed concerns that the tariffs could lead to consumer costs going up further.
Kudlow defended Trump’s position and argued that tariffs are just one part of Trump’s economic plan and his shrinking of regulations and building up markets such as energy will offset any negative effects of tariffs.
“If you look at his entire program, it is counter-inflationary,” he argued, saying he was fully “endorsing” Trump’s tariffs.
Read the exchange below:
LARRY KUDLOW: “You might see some one-off price increases for things, okay? But that’s all. They’re temporary. The important point on that is you look at the president’s entire program, he is cutting tax rates to spur investment, more energy production, deregulation of businesses. Okay, let’s just stop right there. Everyone of those — oh, wait, let me say this too, he is going to shrink the size of the government and the bureaucracy and federal spending. Now, every one of of those is counter-inflationary and pro-growth. So all I’ll say is it must be at the president believes Mexico and Canada are not living up to their national security commitments on closing the border and preventing fentanyl and drugs across the border.”
SANDRA SMITH: “Do you think there will be some sort of 11th hour deal here? Do you think Mexico and Canada come and say —”
KUDLOW: “I don’t want to speculate. I don’t have any information. People think I might, but I don’t. I know there are talks in the White House. But the point I want to make is if you look at his entire program, it is counter inflationary. We have to stand up. We must stand up on national security grounds on the border.”
Watch above via Fox News.
