Trump's tariffs: Economic genius or costly mistake?
President Trump’s tariffs on China, Canada, and Mexico have been nothing short of controversial — and for good reason.
“China, you know, is in many ways an adversary,” economic expert and best-selling author Carol Roth tells Stu Burguiere on “Stu Does America.” “But the reality is that we are very dependent upon China on both sides of the coin, so to speak.”
“One is certainly our dependence on them for various components of making just about anything, as well as finished goods,” she explains. “There are companies that produce things in China that you just won’t be able to produce here in the United States, ever, at a price that somebody would buy it at.”
When it comes to national security issues, ammunition, and medicines, Roth believes there’s a “different argument to be made for tariffs.”
“The idea that there’s just sort of this blanket tariff pronouncements that isn’t surgical, that isn’t targeting these specific things and taking into account specific cases is probably what gives me the most pause right now,” she says.
Stu agrees but also understands the argument in favor of Trump’s tariffs.
“I think there is a sense, by a lot of people on the right now, which is like, ‘This is good. We understand we might have a little bit of pain. We’re going to raise prices a little bit, potentially, on some goods, but long-term, we need to bring this manufacturing back here, and we’re willing to kind of go down that road,’” he says.
But that’s not enough to convince either Roth or Stu that it’s the right move.
“This is a very, very careful dance that must be had,” Roth says. “Being more surgical with the tariffs, I think, would potentially accomplish more of what is being at least told to us and me, as sort of somebody who’s going through the economics of what’s happening and worrying about this happening and that happening, seems like it might drive a better outcome in a very difficult and challenging situation than just kind of this big smattering across the board.”
Roth is also a small-business advocate, which causes her even more concern regarding the tariffs.
“I worry about small businesses as well that don’t have sort of the options that are available to some of these bigger companies,” she says.
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