On Monday’s broadcast of CNBC’s “Squawk Box,” Commerce Secretary Gina Raimondo — who was appearing in her personal capacity as a surrogate for the Harris campaign — stated that “we have had a soft landing,” and “we need stability, predictability,” which you won’t get from 2024 Republican presidential candidate former President Donald Trump.
Raimondo stated that Trump would cause a recession based on his tariff policies alone, and added, “he’s talking about — depending on the day, of course — but he has talked about a 60% or 100% tariff on goods coming in from China. That alone, I don’t think we realize the disruption that that will cause. A tariff on all imports, first of all, that’s anti-American, that would disrupt our economy, the global economy. So, I think that alone could kick us into a recession for sure. But, also, I just think, look, we have had a soft landing, okay? Inflation, we haven’t slayed it totally. It is on the way down. We just need — we need stability, predictability, and what you’ll have in him is unpredictable, chaotic, based upon how he feels on a particular day, and I do worry that the tariffs — but, last week he said 200% tariff on John Deere. Where does that come from? That will only raise prices and put people out of work at John Deere.”
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