Latest / Best of Business / Jeanette Hoffman: Republican strategist reveals how Donald Trump's tariffs are being received in America

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Jeanette Hoffman: Republican strategist reveals how Donald Trump's tariffs are being received in America · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks It bab
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  Speaker 1: follow this and a wide range of podcasts now on iHeartRadio.
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  Speaker 2: Here is Donald Trump familiar today.
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  Speaker 3: For decades, our country has been looted, pillage, raped, and
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  Speaker 3: plundered by nations near and far, both friend and foe alike.
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  Speaker 1: But it is not going to happen anymore.
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  Speaker 2: Janette Hoffman is a Republican strategist with me this afternoon.
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  Speaker 3: Hi Janet, Hi, Good afternoon, Ryan. Thanks for having me.
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  Speaker 2: Great to have you on the show. How's it going
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  Speaker 2: down in America? Futures are already down significantly on the
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  Speaker 2: back of this, but how people feeling about them?
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  Speaker 3: Well, it's a little controversial here too. In America, stocks
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  Speaker 3: are down as well. There's a lot of uncertainty with
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  Speaker 3: the markets with this very controversial tariff plan. As we
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  Speaker 3: just heard, President Trump is claiming that other nations have
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  Speaker 3: been ripping America off for decades with tariffs, and he
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  Speaker 3: wants to even the playing field. But of course that's
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  Speaker 3: controversial because America has not implemented broadbeased tariffs since nineteen
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  Speaker 3: thirty because the outcome has been trade wars, which is
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  Speaker 3: not beneficial for anyone. In fact, when that happened, the
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  Speaker 3: Terariff Act of nineteen thirty sparked the Great Depression for America.
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  Speaker 3: So what happens next is anybody's guess. You know a
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  Speaker 3: lot of people think this could increase consumer prices for
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  Speaker 3: Americans and across the globe if this turns into a
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  Speaker 3: massive global trade war.
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  Speaker 2: What is your sense of the reason he's really doing this.
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  Speaker 2: Is this just you know, putting a stake in the
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  Speaker 2: sand for you know, bargaining later to get the tariffs
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  Speaker 2: down from other countries, or is it? I mean, if
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  Speaker 2: you listen to the way he talks, he's talking about
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  Speaker 2: stuff like if we were at war and we needed medicines,
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  Speaker 2: you know, we need to bring back manufacturing for our
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  Speaker 2: military might and capability should we need it. Which of
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  Speaker 2: these two, you know, competing ideas about why do you
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  Speaker 2: buy them?
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  Speaker 3: Well, two things both can be true. Ryan. You know,
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  Speaker 3: one of the things, if you looked in the audience
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  Speaker 3: of his speech, he was surrounded by auto workers and
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  Speaker 3: teamsters and unions who are desperate to bring manufacturing back
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  Speaker 3: to America because that ship has sailed a long long
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  Speaker 3: time ago, and he does, President Trump does have commitments
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  Speaker 3: to bring manufacturing back from pharmaceutical companies as you mentioned,
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  Speaker 3: from Pfizer, and from auto manufacturers and from Apple and
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  Speaker 3: from other companies, and the other thing that also can
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  Speaker 3: be true, as you said, this can be negotiating chips
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  Speaker 3: with other countries to bring their terrorists down, in which
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  Speaker 3: I think would be smart, right, if this could just
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  Speaker 3: be negotiations back and forth instead of a tit for
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  Speaker 3: chat and saying if you're going to raise terriffs, then
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  Speaker 3: I'm going to raise terraffs, and then everything becomes more expensive,
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  Speaker 3: and then we get into this back and forth in
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  Speaker 3: the trade war. And I will say when President Trump
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  Speaker 3: did implement tariffs in the first term, it did hurt
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  Speaker 3: American agricultural business, farmers, the American bourbon trades in Louisville, Kentucky,
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  Speaker 3: the whiskey businesses in Tennessee, because those are big exports
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  Speaker 3: for America. So when we implemented tariffs on other countries,
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  Speaker 3: those countries slap tariffs right back on us. So if
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  Speaker 3: it can be a negotiating ship where we say to
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  Speaker 3: other countries, lower your tariffs and we won't implement them
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  Speaker 3: on you, that would be a good thing. But the
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  Speaker 3: fear is that the prices will go up across the board.
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  Speaker 2: Looking at the stock market, and I know a lot
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  Speaker 2: of this was priced in over the last couple of weeks.
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  Speaker 2: But looking at the stock marketing, looking at the futures,
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  Speaker 2: if a recision comes to America, what does it do
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  Speaker 2: to Trump?
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  Speaker 3: Well, that would not be good for Trump's legacy because, frankly,
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  Speaker 3: I think he was elected because of prices, because of inflation,
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  Speaker 3: because of price of groceries. And he said it himself, groceries,
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  Speaker 3: you know, that was the number one reason why he
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  Speaker 3: was elected. People couldn't stand the price of eggs, the
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  Speaker 3: price of just basic consumer goods, the price of gasoline.
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  Speaker 3: So if everything prices go up, we hit a recession,
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  Speaker 3: that will be bad news for Trump's legacy and also
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  Speaker 3: for midterms that the House of Representatives will be elected
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  Speaker 3: next year for Republicans, because that margin the Republicans currently
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  Speaker 3: hold a very slim margin right now, So that would
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  Speaker 3: be bad for any kind of legislation that the president
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  Speaker 3: hopes to pass in the future of his term.
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  Speaker 2: Interesting stuff, Jennet, thank you very much for your time.
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  Speaker 2: Jennett Hoffmann Republican strategists out of the sites for US
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  Speaker 2: at this afternoon.
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