Former Labor secretary calls Trump's Canada tariffs 'irrational' |
Former Labor secretary calls Trump’s Canada tariffs ‘irrational’
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Trump battles with GOP Senators over beef Policy, Canada tariffs
Trump battles with GOP Senators over beef Policy, Canada tariffs
Former Labor Secretary Robert Reich on Wednesday called President Trump’s 50 percent tariffs on Canadian imports “irrational.”
Reich warned in an interview with “Squawk Box” co-host Andrew Ross Sorkin on CNBC that prices would rise, particularly for housing, as a result of the trade war.
“And as Canadian wood products become even more expensive, you’re going to see housing becoming, again, even more of a basket case,” Reich, who served under former President Clinton from 1993 to 1997, said. “And in the long term, Treasurys, the effect on mortgage rates –– well, this is a major, important sector of the economy.”
“That is a particular problem for young people trying to........