Minnesota Gov. Tim Walz (D) blasted President Donald Trump over his newly-announced tariffs, calling his financial strategy outdated and damaging.
Showing on MSNBC’s “All In With Chris Hayes” Wednesday, the previous vice presidential candidate warned that Trump’s commerce warfare would have dire penalties for working People.
Calling the impact of sweeping tariffs “inconceivable,” Walz puzzled why Trump appears so fixated on insurance policies from a bygone period.
“You almost have to be an amateur psychologist on this,” he advised Hayes. “It’s like Trump is stuck in the ’80s. His music, his clothing, his thinking.”
The governor dismissed the president’s long-standing assist for tariffs and argued they merely don’t work.
“Every economist, conservative or liberal, will tell you they fail. We use them strategically, but he doesn’t fundamentally understand trade,” Walz mentioned.
Amanda Stronza by way of Getty Pictures
He then took intention at Trump’s self-proclaimed enterprise experience. Trump’s actual property ventures have filed for chapter safety six occasions, although he has claimed these are strategic strikes to keep away from repaying debt.
“The biggest myth in this country is that Donald Trump knows anything about business,” he continued. “He’s bankrupted every single one he’s been in, and now he’s bankrupting the country.”
Walz echoed financial forecasts that warned the tariffs quantity to a tax on working People.
“This is a tax hike we’ve never seen in our lifetimes, and it’s going to have a dramatic effect,” he mentioned.
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Not lengthy after Trump debuted steep duties on world allies and adversaries alike, individuals witnessed inventory markets internationally plummet.
By Thursday morning, world indexes — together with these in Europe, Hong Kong, and South Korea — had dropped round 2%, whereas the Dow Jones Industrial Common and S&P 500 tumbled even additional.
