Last Time We Tried Tariffs, We Had a Great Depression

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Cruz went head-to-head on trade. Trump said the tariff is a threat, not a tax. It could cause a tariff war, a tax war, Cruz said. Donald has the problems but not the solutions.

SENATOR CRUZ: Donald Trump has so far won 35% of the vote. Those people are signing up to his vision of the Republican party. What do you think is wrong with that vision?

Well, Donald is right, for example, he was just talking about international trade. He’s right about the problems. But his solutions don’t work. For example, his solution on international trade, he proposed earlier a 45% tariff on foreign goods. He backed away from that immediately and may come back with a different number tonight. I don’t know where he’ll be tonight.

But I’ll tell you what happens. We’ve seen prior presidential candidates who propose tariffs. And the effect of a 45% tariff would be when you go to the store, to Walmart, when you are shopping for your kids, the prices you pay go up 45%.

But not only that. When you put those in place because a tariff is a tax on you, the American people, but the response is that the countries we trade with put in their own tariffs.

A much better solution that works is the tax plan I’ve laid out which would enable our exports to be tax-free would tax our imports, would not raise prices for Americans and would not result in reciprocal tariffs. Fix the problem and that’s what’s missing from what Donald says.

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2 COMMENTS

  1. what in the fuck, did trump just say manufacturers cant get into china? did he basically say he was using the sate to threaten people, for his friends? i mean i dont like any of them, but i liked cruz when he at least mentioned the gold standard.

    • edit: sate was meant to be state* , and im not even sure anyone understood what cruz meant by smoot-hawley. How sad that history repeats itself because “fervor” creates more action and momentum then critical analysis.

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