Trump’s Economic Ally Criticizes 25% Auto Tariff, Citing 'Irreparable Damage' To The U.S. Auto Industry

Benzinga

Economist Arthur Laffer warned that Trump's 25% tariff on auto imports could cause "irreparable damage" to the industry, according to the Associated Press. Laffer says the auto industry would be stronger if Trump kept the supply chain rules with Canada and Mexico. Laffner was an advisor to Trump during his 2016 presidential run and co-wrote a book praising Trump's economic policies. Trump awarded Laffner the Presidential Medal of Freedom in 2019.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Elements Arthur Laffer warned that Trump's 25% tariff on auto imports

00:06could cause irreparable damage to the industry, according to the Associated Press.

00:09Laffer says the auto industry would be kept stronger if Trump kept his supply chain rules

00:13with Canada and Mexico. Laffer was an advisor to Trump during his 2016 run for president

00:19and co-wrote a book praising Trump's economic policy.

00:22Trump awarded the presidential banner of freedom to Laffer in 2019.

00:26For all things money, visit Benzinga.com.

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