Former Reagan financial advisor Artwork Laffer discusses President Donald Trump’s declare that the U.S. is being ‘ripped off’ by different nations on ‘Varney & Co.’
Former Reagan financial advisor Artwork Laffer stated Tuesday on “Varney & Co” that each the world and U.S. would see profit from President Donald Trump’s tariffs and the commerce negotiations that come up out of them.
His look on “Varney & Co” got here after he and Stephen Moore wrote an opinion piece titled “A Win-Win Exit Strategy for Trump on Tariffs” that was printed Monday within the Wall Road Journal.
“The win-win strategy is Trump is just phenomenal at negotiating,” Laffer stated Tuesday, including that he agreed with President Donald Trump that overseas nations getting hit with the president’s newest levies “have far higher tariffs and non-tariff barriers and quotas than we do.”
SCOTT BESSENT SAYS UP TO 70 NATIONS WANT TO NEGOTIATE OVER TRUMP’S TARIFFS
“But what he’s done now is he’s gotten them in a position where they’re going to lose their access to the U.S. market if they don’t redress these types of inequities that they’ve done,” the previous Reagan financial advisor continued. “And Trump is a master negotiator, and I’m watching these people calling into Trump — this is exactly what he does beautifully and wonderfully — and I believe he can negotiate freer trade deals, get those tariffs way, way down, much lower than they are now, by primarily those people lowering their tariffs and us keeping ours low or even going lower, and it’ll be a win, win.”
Final week, Trump unveiled new tariffs on items imported from overseas nations, together with a baseline levy of 10% and “individualized higher tariffs” on sure nations holding massive commerce deficits with America.
U.S. President Donald Trump holds up a chart of “reciprocal tariffs” whereas talking throughout a “Make America Wealthy Again” commerce announcement occasion within the Rose Backyard on the White Home on April 2, 2025 in Washington, DC. (Chip Somodevilla/Getty Photographs / Getty Photographs)
Treasury Sec. Scott Bessent advised FOX Enterprise’ Larry Kudlow on Monday that “there are 50, 60, maybe almost 70 countries now who have approached us” about negotiating commerce within the wake of that.
“The world will prosper. We’ll have a great economy, and the U.S. will be in perfect, beautiful shape for economic growth,” Laffer stated of negotiating new commerce offers out of the tariffs.
CATTLE RANCHERS BULLISH ABOUT TRUMP’S NEW TARIFFS
He stated Trump “has already” threatened the tariffs to make nations keen to barter.
“Now the exit strategy is he doesn’t impose those tariffs. He takes those tariffs away. He even reduces our tariffs on those countries if they will eliminate their tariffs on us, and that would be the exit strategy, which would be a win, win, win, win.”
Laffer warned if the tariffs go into impact, stay in drive for a very long time and “we have a huge escalation of tariffs,” it could be a “disastrous” for each America and the world financial system.
Trump “should be able to negotiate getting rid of tariffs for them and for us.”
“Everybody loses in trade wars, but we all don’t lose the same amount. Americans will lose a lot less than the foreigners do, so therefore, they have an incentive to come down to the table and really drop their tariffs on our products,” he additionally stated. “It will help them as well, too. Stuart, I mean, their tariffs on our products hurt their countries.”
President Donald Trump shows a signed govt order imposing tariffs on imported items throughout a “Make America Wealthy Again” commerce announcement occasion within the Rose Backyard on the White Home on April 2. (Andrew Harnik/Getty Photographs / Getty Photographs)
The reciprocal import tariffs are slated to go stay on Thursday. The baseline 10% levies went into drive late final week.
HERE IS EVERY COUNTRY WORKING ON TRADE DEALS WITH THE US
The White Home stated in an April 2 truth sheet that they’ll keep in place “until such a time as President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated.”
Israel, Japan, Vietnam, Argentina and Indonesia are amongst a number of the nations which can be pursuing negotiations with the Trump administration.
