‘Money is being invested in this country. Factories may be relocated here’
By Mariane Angela, Daily Caller News Foundation
Veteran political analyst Brit Hume weighed in on the results of President Donald Trump’s tariffs on Fox News Wednesday.
Trump declared a national emergency on Wednesday and imposed a series of reciprocal tariffs that were set at roughly half of the rates charged by other nations on U.S. imports, with a minimum of 10%, for an initiative the White House has labeled “Liberation Day.” During an appearance on “Special Report with Bret Baier,” Hume discussed the potential benefits, as stated by Trump. Hume said the plan could significantly impact the U.S. economy.
“Money is being invested in this country. He’s announced a number of instances of that. Factories may be relocated here. All that will take time. Factories don’t get built overnight. Money invested doesn’t begin to show its effects to people right away,” Hume told Baier. “But the effect of these tariffs could be quite immediate. Prices are likely to go up, and they may indeed provide a revenue that would be offsetting revenue that could be used for tax cuts or at least to hold taxes where they are.”
Hume, however, said that these benefits are not guaranteed.
“Even that isn’t done yet, so you can see why the markets might be anxious about this situation with short-term pain and long-term gain and no dead certainty about the long-term gain,” Hume added.
Hume said some people question Trump and his convictions.