Larry Kudlow on Free Trade
KUDLOW: With respect to the farmers, we are doing the best we can. We are providing short-term assistance to keep them going and try to fill the void until we can get better international markets. The farmers themselves, the farm groups, they've been great patriots and we celebrate their support to make America's overall economy very, very strong.
Fox News pressed Kudlow about Trump's claims. "It's not China that pays tariffs," the Fox host said. "It's the American importers that pay what, in effect, is a tax increase and oftentimes pass it on to US consumers."
"Fair enough," Kudlow replied. "In fact, both sides will pay. Both sides will pay in these things." Kudlow added, however, that China doesn't actually pay the tariffs, but that their GDP will suffer "with respect to a diminishing export market. This is a risk we should and can take without damaging our economy in any appreciable way."
Voting against Ex-Im should be a no-brainier. For those who may not be following this story, Ex-Im is a government-run bank that finances foreign competition with the use of loans and loan guarantees to buy American goods.
For example, in fiscal year 2013, Ex-Im backed a $117.5 million loan guarantee to support Boeing 737 purchases by Dubai. Dubai is a wealthy country. This is a state-run airline. Why does the US have to subsidize it? And with our economy growing at a snail's pace, why should taxpayers subsidize Boeing? I don't want to knock Boeing. It's a great company. But it does not need corporate welfare.
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Incoming 2021 Biden Administration:
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