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Economist Art Laffer: Trump's Free-Trade Strategy 'Scares' Me

(Newsmax TV's "America Talks Live")

By    |   Thursday, 26 July 2018 02:38 PM

Economist Art Laffer told Newsmax TV he understands President Donald Trump's free-trade strategy — but "it scares the living hell out of me, to be frank with you."

"Tariffs and quotas and trade restrictions are killers," Laffer, 77, who served on the Trump campaign, told "America Talks Live" co-hosts Miranda Khan and John Cardillo in an interview Wednesday.

"They kill both the imposer and the country upon which they're imposed.

"I was in the Nixon administration — and yet they did all of this in 1971, with 10 percent import surcharges and all that stuff," Laffer said.

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"It led to a 50 percent decline in the market. It led to the worst economy ever.

"And, of course, we all know the Great Depression.

"But I think Trump understands that perfectly well, as well," Laffer, who also served in the Reagan White House, told the Newsmax TV hosts. "This is his strategy for getting free trade.

"I hope I'm right on that analysis, but it scares the bejabbers out of me."

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President Donald Trump's free-trade strategy "scares the living hell out of me, to be frank with you," economist Art Laffer told Newsmax TV's "America Talks Live."
art laffer, tariffs, free trade, trade war
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2018-38-26
Thursday, 26 July 2018 02:38 PM
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