John Kennedy compares tariffs to whiskey and bets ‘every foreign trade rep’ will negotiate
Senator John Kennedy (R-LA) discussed the recent tariffs imposed by President Donald Trump, describing them as a strategic negotiation method meant to attract foreign trade representatives to the U.S. This initiative, termed “Liberation day” tariffs, involves a 10% levy on several countries, including Mexico, Canada, and China, and a more considerable 25% on foreign automobiles. Following the declaration, the stock market reacted negatively, marking consistent declines in the S&P 500.
Kennedy emphasized the need for anticipation regarding the tariffs’ effectiveness and mentioned that many nations, such as China and India, manage trade barriers without significant inflation. He also warned that Trump’s tariffs could potentially raise taxes by over a trillion dollars between 2025 and 2034 if they persist long-term.Kennedy likened tariffs to whiskey, suggesting that while moderation can be beneficial, excess can lead to detrimental outcomes.
John Kennedy compares tariffs to whiskey and bets ‘every foreign trade rep’ will negotiate
Sen. John Kennedy (R-LA) said he viewed the “Liberation Day” tariffs as an artful negotiation tactic that would draw in “every foreign trade representative.”
On Wednesday, President Donald Trump imposed 10% tariffs on Mexico, Canada, China, and dozens more countries, as well as a 25% tariff on foreign automobiles. The stock market has had bearish reactions. The S&P 500 recorded its fifth consecutive week of decline last Friday, and its futures declined by 3.4% before the market opened Thursday.
“If you want a sure-fire investment, go book as many rooms as you can at the Hay-Adams Hotel across from the White House. Because every foreign trade representative is going to be coming to America to meet with the Trump administration to try and negotiate,” Kennedy said Thursday on Fox News’s America’s Newsroom. “Tariffs are more art, in my opinion, than science. Tariffs are like whiskey. A little whiskey under the right circumstances can be refreshing. Too much whiskey under the wrong circumstances, and you end up drunk as a goat.”
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Kennedy said Trump would have to wait some months before he saw the tariffs’ results and whether they worked in his favor. The senator pointed to China and India as two countries that have “a lot of trade barriers” and don’t experience inflation.
According to an estimate by the nonpartisan think tank Tax Foundation, Trump’s tariffs against Mexico, Canada, and China alone could raise taxes by more than a trillion dollars between 2025 and 2034 if they continue that long.
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