The former Chief of Staff for George W. Bush just attacked President Trump’s trade war and tariff plans in an appearance on Fox News Sunday.
Joshua Bolten told host Chris Wallace that he saw this tweet from the President threatening to tax European cars and claiming that a trade war would be easy for the U.S. to win.
If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance!
— Donald J. Trump (@realDonaldTrump) March 3, 2018
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Bolten took exception to Trump’s optimistic view of the consequences of his actions.
“Nobody wins a trade war, especially in these globalized days,” he told Wallace.
The former Republican in the Bush administration also criticised the remarks of an earlier guest on Fox News Sunday, White House National Trade Council Director Peter Navarro, who defended Trump’s tariff plan.
“The remedy that Peter Navarro was pushing the president to impose doesn’t address the real problem, which is Chinese overcapacity,” Bolten said. “We have to get together with our friends and allies who all face the same problems, put pressure on the Chinese jointly, because you can’t do this individually, and force the Chinese to reform their practices,” he told Wallace.
“It is not an easy task. It is not as easy as waving your hands and putting tariffs on a bunch of countries that are not the problem,” the former Chief of Staff said.
With many members of his own party rebelling against his tariff plan, Trump faces accusations of mismanaging the nation’s economy through his incompetent commitment to destroying all of the carefully negotiated trade deals made by previous administrations. The complexity of all of the moving pieces of international trade in a globalized economy is beyond his ability to foresee the consequences of his actions.
Unfortunately, workers and consumers, both in America and those who reside in the lands of our multiple trading partners, will bear the brunt of his misguided policies.