On Wednesday’s broadcast of the Fox Business Network’s “Kudlow,” White House Council of Economic Advisers Chair Stephen Miran stated that under President Donald Trump’s tariff plan that he announced, “other countries are going to pay a tariff similar to the totality of trade effects that they impose upon our exports, and there’s a 10% floor on that. And so, it could be 10% or it could be higher.”
Host Larry Kudlow asked, “So, just clear this up for me. I’m getting conflicting advice. With respect to the 10% baseline tariff and with respect to the so-called reciprocal tariff charges, is it both or is it one or the other?”
Miran answered, “Look, the 10% is sort of a floor. So, what the President has done, has decided [is] that other countries are going to pay a tariff similar to the totality of trade effects that they impose upon our exports, and there’s a 10% floor on that. And so, it could be 10% or it could be higher. But the President’s campaigned on, the President promised to make trade fairer for Americans. He promised to make American workers on fairer ground vis-à-vis the rest of the world, and he’s doing that.”
Follow Ian Hanchett on Twitter @IanHanchett
