VIDEO: Raimondo Says Trump’s Tariff Plan “Not Working” and “People Are Going to Get Hurt”
GoLocalProv News Team
VIDEO: Raimondo Says Trump’s Tariff Plan “Not Working” and “People Are Going to Get Hurt”
On Wednesday, Trump backed down on his wide-reaching tariff plan unveiled last week, announced he is “pausing” the economic sanctions.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe move came after a week of extreme market volatility and on Wednesday, the Dow Jones Industrial Average finished the day up more 2,900, but remains down significantly for the week. Trump did not remove the tarrif on China.
Raimondo, who graduated from Harvard College in 1993, made her remarks at an Institute of Politics forum on “The Future of U.S. Competitiveness” on Wednesday night.
Rest of World Will Ask "Can We Trust America?"
Forum moderator Jeffery Liebman, the Director of the Taubman Center for State and Local Government, posed the following question to Raimondo.
“What do you think they are doing this week in Washington? In the last 80 years, the U.S. has led the world in negotiations to bring tariffs down…driven by a philosophy that we have the most innovative and productive workers, so as long as markets are open, we’re going to do great, and somehow that doesn’t seem to be the philosophy…I don’t know that philosophy is the right word, or the impact of what they’re doing," asked Liebman.
“I don’t know how they think, and I don’t want to speculate. I know it’s not working, I know people are going to get hurt,” said Raimondo.
“Here's what I know. I know that with this level of unpredictability it's much more likely that we're going to wind up in a recession than I would have predicted a few months ago, because every business is saying let's wait, let's not hire,” said Raimond. “Let's not invest; let's not take out a loan - uncertainty, unpredictability means people stop, and that feeds on itself.”
“I know countries are thinking twice - can we trust America?” she added. “Even if they negotiate lower tariffs at this point…what’s going to happen in a month?”