Impact of President Trump's Tariffs on Trade Negotiations
Legendary economist Art Laffer expresses fear over President Trump's tariffs but remains hopeful that trade deals will be secured to reduce them. Laffer believes protectionism leads to economic downturns and urges for reduction of tariffs. Despite concerns, Laffer praises Trump as a great negotiator and the best president of his lifetime.
Key Points
- Protectionism leads to downturns
- Reduction of tariffs can boost the economy
- Trump praised as a great negotiator
Pros
- Potential reduction of tariffs through trade deals
Cons
- Fear of economic downturns due to protectionist policies
- Risk of causing an economic bust with reciprocal tariffs