Former NYT journalist: Trump misunderstands tariffs

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00:00OK, David, what do you say to that? Alarmism. And let's just face it, I mean, as Greg has said,

00:07I've got 50 countries. Greg says more like 70 countries have now returned to the United States

00:14on bended knee, as it were, saying, let's strike a deal before those tariffs do us any real damage.

00:20These tariffs seem to be having the desired effect, don't they?

00:22Not really. First of all, understand, I've known and covered Donald since 1988 when I wrote that

00:29he might become president someday. And Donald has long held this belief that tariffs are paid by

00:35the country where the tariff is applied. That's absolutely not true. It is a tax that is

00:41overwhelmingly, if not entirely, passed on to consumers. So it's inherently inflationary.