'Gob-smacking': Former GOP lawmaker blasts Trump’s 'self-destructive' economic policy
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Former Republican lawmaker Chris Dent, of Pennsylvania, said he could not fathom the reason President Donald Trump keeps attacking longtime international allies and trading partners such as the European Union — and, even more puzzling — the Apple iPhone.
“This is real money for people. And the fact that the president is now proposing a 50 percent tariff on the European Union, that's greater than (China’s 30 percent tariff), … are profound,” he told MSNBC anchor Chris Jansing of "Chris Jansing Reports."
“It’s not just about trade. It's about foreign direct investment,” added Dent, who is executive director of the Aspen Institute’s Congressional program. “Europe invests gobs of money — I think it's trillions — in the United States, often in manufacturing, biotechnology. Very good investment that employs millions of Americans. I mean, I am just — It’s gobsmacking to me why he would do something that is so self-destructive.”
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Without warning, Trump reignited his trade war this morning with his 50 percent tariff against the European Union. His announcement, from an internet post, tumbled markets that had recovered much of their tariff-related losses over the weeks. The president claimed trade talks were “going nowhere.”
That same morning, Trump recommended a 25 percent tariff on phones not made in the United States, potentially raising the purchase price of both Apple and most Android phones by hundreds of dollars.
“None of this makes any sense,” said Dent. “It just strikes me as incoherent and self-destructive."
Apple stock prices were down 5.38 points at the time of Dent’s interview, but NBC Senior Policy Reporter Shannon Pettypiece said this was damage done not by actual tariffs but the mere threat of them from a social media post.
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“These are just threats. No tariffs are actually being collected yet,” Pettypiece said. “They have to actually put in the paperwork and submit an actual notice to start collecting tariffs. So, these are threats.”
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