Photo by Gage Skidmore, CC BY-SA 2.0
By Jennifer Schutt | AZ Mirror
Republican presidential nominee Donald Trump defended his plans for steep tariffs on Tuesday, arguing economists who say that those higher costs would get passed onto consumers are incorrect and that his proposals would benefit American manufacturing.
During an argumentative hour-long interview with Bloomberg Editor-in-Chief John Micklethwait hosted by the Economic Club of Chicago, Trump vehemently denied tariffs on certain imported goods would lead to further spikes in inflation and sour America’s relationship with allies, including those in Europe.
“The higher the tariff, the more likely it is that the company will come into the United States, and build a factory in the United States so it doesn’t have to pay the tariff,” Trump said.
Micklethwait questioned Trump about what would happen to consumer prices during the months or even years it would take companies to build factories in the United States and hire workers.
