Tariffs are 'a key tool' for Trump: Former Trump admin. economist [Yahoo! Finance Canada]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: Yahoo! Finance Canada
SMBC Nikko Securities America chief economist Joseph LaVorgna, who served as the National Economic Council chief economist during Trump's first term, joins Morning Brief Hosts Seana Smith and Brad Smith to discuss how Trump's second term in office will differ from his first four years. LaVorgna says the proposed tariffs are "consistent with President-elect Trump's economic agenda, which is an integrated approach whereby you have tariffs that occur alongside low corporate tax rates, low regulations, a cutback in government spending, and abundant energy output, and essentially all those things work together to slow the offshoring to get more onshoring, more reindustrialization in the US economy and essentially build a much stronger base and tariffs are a key tool in using that agenda." The economist adds, "I don't like when people just look at the tariffs in isolation. It's part of a total comprehensive process where everything is integrated, where companies want to come to the US
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