Trump Former Advisor Backtracks: Tariffs Are Essentially a "Stealth Tax" or Drag on the Economy and Employment.
Stephen Moore a conservative economist and former senior economic advisor to Donald Trump’s first term recently publicly criticized the Trump administration’s broad tariff policies, labeling them a "hidden tax" on consumers that could dampen economic growth and weaken employment. "Tariffs are taxes, and taxes are never a good thing," Moore said a stance sharply at odds with his past support for trade protectionism.
He noted that while the government frames tariffs as a tool to revitalize manufacturing and fund tax cuts, their costs are often passed directly to consumers, driving up prices and worsening inflation. Multiple research institutions project a new round of tariffs set to take effect by 2025 could raise the U.S. tax burden by roughly $1.2 trillion over the next decade, cutting GDP by about 0.4% and eliminating 344,000 jobs.
Moore also emphasized tariffs’ regressive nature, which hits low and middle income families hardest. Moore called for targeted, time limited tariffs if they continue, plus quick tax cuts to offset negative impacts. Observers view his shift as a sign of growing internal divides in the Trump camp between free market principles and trade protectionism, adding uncertainty to U.S. economic policy direction in 2026.#TrendingTopic #TRUMP #usa #UsaElections #TarriffsPause $BTC
