President Donald Trump’s former adviser took aim at him over his “very wobbly economy” on Sunday as the president continues to flip-flop on tariffs.
Stephen Moore, who served as an economic adviser to Trump during his 2016 campaign, said Sunday on Fox News that the stock market has been going up and down as the president continues to implement and pause tariffs. He pointed to a lackluster jobs report on Friday and other economic numbers that show that the economy needs a “pick-me-up.”
“Well, you use the word complicated, and that’s exactly what it has been over the last week … where one day the tariffs are going to go up, and then there’s going to be a delay in the tariffs, and then there’s going to be a tariff in another country. And it’s been up and down and up and down. And by the way, the stock market went up and down and up and down with these things,” Moore said.
“I think that the President’s emphasis on tariffs right now is misguided. I think we have a very wobbly economy. We saw a not very good jobs report on Friday, the consumer confidence numbers are sinking, and other indicators are not positive. The economy needs a pick-me-up, and tariffs are not a pick-me-up. What is, is the Trump tax cut. Congress has to get this passed as soon as possible, by Memorial Day. That will provide the stimulus the economy needs,” he added.
Economists and retailers have warned for months that the tariffs will increase prices for U.S. consumers. Recent polling also shows that Americans largely oppose tariffs on Mexico and Canada.
The YouGov/The Economist poll found that more than half—54%—of registered voters oppose implementing 25% tariffs on imports from Canada. Just 36% support the move, according to the results. Tariffs on Mexico were also unpopular, with 49% saying they oppose 25% tariffs on the country and 41% supporting it.
After imposing and then quickly pausing 25% tariffs on imports from Mexico and Canada that sent markets tumbling over concerns of a trade war, Trump said his plans for broader “reciprocal” tariffs will go into effect April 2, raising them to match what other countries assess.”
“April 2nd, it becomes all reciprocal,” he said in a taped interview with Fox News Channel’s “Sunday Morning Futures.” “What they charge us, we charge them.”
Asked about the Atlanta Fed’s warning of an economic contraction in the first quarter of the year, Trump seemingly acknowledged that his plans could affect U.S. growth. Still, he claimed, it would ultimately be “great for us.”
When questioned whether he was expecting a recession in 2025, Trump responded: “I hate to predict things like that. There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing.” He then added, “It takes a little time. It takes a little time.”
The Associated Press contributed to this report.
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