Today, Club for Growth President David McIntosh issued the following statement in response to news report that China is considering imposing tariffs on $3 billion worth of U.S. goods:
“Today’s announcement that China will retaliate against American consumers is a warning that the current U.S. tariff policy could lead to a trade war that our nation and its economy do not need,” stated Club for Growth President David McIntosh.
“When the Trump Administration announced its steel and aluminum tariffs, Club for Growth warned that the move would undermine economic freedom and impose higher costs on hardworking Americans. And now, just a few weeks after that announcement, we’re seeing exactly that play out.
“The stock market is roiling on a downward trajectory, and it is only a matter of time before our nation’s economy begins to stall if this trade war escalates. Once it does, the great economic benefits of President Trump’s historic tax cuts could be virtually erased. History also shows that trade wars lead to greater international tension and military conflict.
“Club for Growth urges the Trump Administration to negotiate for better trade deals for the American worker, but the imposition of tariffs is not the appropriate means to achieve such ends. Tariffs are nothing more than taxes paid by Americans.”