Wait What? CNN Reporter Suggests to Larry Kudlow iPhones Will Go Up $7,500 Under Trump Tariffs
White House economics chief Larry Kudlow had a disturbing exchange with CNN correspondent Joe Johns in which Kudlow seemed to agree that President Donald Trump‘s latest round of tariffs will increase the price of an iPhone by $7,500.00.
During a press gaggle on the driveway of the White House Friday morning, Kudlow insisted that the effect of Trump’s trade war on American consumers has been “de minimis,” despite copious analysis to the contrary.
But toward the end of the gaggle, Johns pressed Kudlow on the point with a startling figure, telling Kudlow “Look, a lot of people are going to say 7,500 bucks more for an iPhone is not ‘de minimis’,” and asking “Will you guys at least just admit that these latest tariffs are going to inject a new level of volatility?”
Instead of disputing the figure — which Johns repeated twice — Kudlow replied, “Well let’s see how that plays out, because on a lot of these production supply chains and so forth, there are going to be changes.”
“A lot of these companies have already said they are fixing to leave China and come, either come back to the United States or go someplace else,” he added. “So I don’t want to outguess that. We are cognizant of that.”
A May J.P. Morgan analysis of the effect of tariffs showed iPhone XS prices increasing from $1,000 to $1,142.
Perhaps Johns and Kudlow are big The Price is Right fans. In 2015, two different contestants guessed that an iPhone package cost $7,500 and $7,501, respectively. They were wrong.
Watch the clip above, via C-Span.
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