Trump’s tariffs are “criminal”, says the former US ambassador to Singapore, warns of losses in the USA.
Portsmouth, United Kingdom – October 28: container ship Vung Tau Express sails loaded with ship containers near the English coast on October 28, 2024 in Portsmouth, England.
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The tariff proposed by US President Donald Trump is not only symbolic, but are criminal and “will cost jobs” in the United States, according to Frank Lavin, a former US ambassador to Singapore.
In an interview with CNBC “Street signs of Asia“Lavin said we were” in a short time for a little bad news, “adding that Tariffs would also harm the auto industry in the United States
“We will oblige other countries to answer. So, we will see worse, and I think the worst of all, from Mr. Trump’s point of view, and we will see a little inflation pressure,” said Lavin.
Trump oNu Monday has signed executive commands of implementation 25% of steel imports and aluminum imports in the United States
Asked if Trump could use tariffs and threat of tariffs as a negotiating chip, Lavin explained that this could be considered as such, if the tariffs were aimed at Canada or Mexico to get an answer to questions such as the border safety.
“But when you talk about the global tariff on steel and aluminum and tariff on China, you will not see a quick answer and quickly solving these things,” he said.
Furthermore, with Trump advocating a “reciprocal” stance on tariffs, Lavin said the world would see the worsening of the store, which would make it difficult to react other countries. “So he transcended simply signaling or simply establishing a tariff as a negotiating chip.”
“If they charge us, we charge them. If they are 25 years old [percent] We are 25, if we are 10 years old, and if they are much greater than 25, and we are and we are, “Trump said on Monday.
Although the American economy is “not in poor condition right now,” Lavin said that the tariffs would add inefficiency to the economy and perform negative pressure. It will also increase the inflation pressure, which could lead to the US federal reserves to be retained to reduce the rate.
“Trump was angry with American food last time there was no mitigation. Well, there will be no alleviation next time if the tariff holds you in place,” he said.
