President-elect Donald Trump denies reports from the Washington Post that claim he plans to target only specific sectors with his proposed tariffs.
SMBC Nikko Securities America managing director Joseph LaVorgna, who was also the chief economist of the National Economic Council under President Trump’s first term, joins Seana Smith and Madison Mills on Catalysts to share his expectations for tariffs under Trump 2.0.
"President Trump’s been very clear on what he wants to do with tariffs, and he said some minimal level of tariffs, 10 to 20% across the board and China at 60 [percent]," LaVorgna explains. "Those numbers obviously can change, but to come out and say that they’re not going to be as high as what he’d been saying … is definitely putting the cart way in front of the horse."
LaVorgna does not believe the tariffs are inflationary. He elaborates, "The tariffs are part of a comprehensive program that includes increased energy production … deregulation, which is going to increase the supply side of the economy, and of course, lower taxes … [which] will get the economy moving and get growth to be faster, and that, to me, is what the equity market is discounting."
Watch the video above to learn more about LaVorgna’s outlook on the equity and bond market during Trump’s second term, the Federal Reserve’s next move, the possibility of a government shutdown, the reconciliation bill, and more.
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