In an interview on CNBC’s “Squawk Box” Monday morning, Americans for Tax Reform President Grover Norquist expressed concern with President Trump’s proposal to levy global tariffs on steel and aluminum.
“Tariffs are taxes,” said Norquist. “They are very disruptive. Trade wars are civil wars, and the losers are both Americans.”
While Trump should be commended for working to ensure the U.S. has better trade deals, using tariffs as leverage is a dangerous negotiating tactic.
“There is something to be said for … rattling the cages and disrupting things,” Norquist explained. “But more people get damaged than get helped in these tariff wars.”
Imposing tariffs steel and aluminum will increase the cost of numerous products and threatens American jobs and wages. These tariffs could offset the benefits to American families from the GOP tax bill. Since President Trump signed the Tax Cuts and Jobs Act into law, 90 percent of Americans have received more take-home pay, and over 400 companies have announced pay raises, bonuses, or additional benefits for employees.