May 28, 2024

Breitbart economics editor John Carney said Wednesday on Fox Business Network’s “Kudlow” that President Joe Biden was implementing tariffs incorrectly.

Host Larry Kudlow said, “We don’t buy steal from China, or hardly any, we don’t electric vehicles, we buy some solar panels stuff, and other hand, they want to stop rare-earth. They are slapping tariffs on rare-earth. but they won’t let us mine for rare-earth here. So what does that tell you?”

Carney said, “Biden is not serious about this China trade issue at all. In fact his tariffs are so weak they will do nothing to reset trade relationship with China.”

He continued, “China depends on the U.S. buying its over capacity. It is still going to depend on U.S. buying its over capacity. The people who will be hurt here, it is not consumers, it is not going to raise prices, tariffs don’t do that we saw that under Trump. You know who will be hurt, will be other manufacturers in U.S, who are making non-protected products that China will dump on to us because they still need to run their trade deficit, our trade surplus against us.”

Carney added, “Trump tried to handle it strategically, let reset the trade relationship, let make it receptacle. This a dumb move.”

Follow Pam Key on Twitter @pamkeyNEN