- Stephen Moore criticizes Trump’s tariff policies as economic dampeners.
- Potential for a $1.2 trillion tax increase by 2025.
- 344,000 jobs could be eliminated, U.S. GDP may decrease by 0.4%.
Conservative economist Stephen Moore criticized the Trump administration’s tariff policy, labeling it a “hidden tax” detrimental to economic growth and employment, during a public discussion in December..
Moore’s stance exposes internal tensions within Trump’s economic approach, suggesting a potential shift in future U.S. policy and raising concerns about broader economic and consumer impacts.
Moore Warns of $1.2 Trillion Tariff Tax by 2025
Responding to Moore’s comments, observers note deepening divides within the Trump camp over economic policy. Moore suggested targeted, time-limited tariffs. His remarks, “Tariffs are taxes, and taxes are never a good thing,” underscore the challenge facing policymakers.
Trump Tariffs Could Cost 344,000 Jobs, Experts Predict
Did you know? During Trump’s first term, tariffs raised the average U.S. tariff rate from 2.5% to 15% by 2025, significantly impacting GDP and consumer prices.
Moore’s comments reflect a broader discussion on the economic viability of tariffs. Historically, tariffs can increase costs for low- and middle-income families, contradicting their initial purpose of protecting job sectors like manufacturing.
Economic forecasts indicate that the job loss estimate of 344,000 aligns with the historical precedent of tariff-induced economic slowdowns. This projection raises questions about balancing protectionism with the sustainable free-market practices that Moore advocates.
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Source: https://coincu.com/analysis/stephen-moore-tariff-policies-tax/
