Robert Lighthizer, a long-standing trade advisor to Donald Trump, is reportedly cautioning Wall Street investors to prepare for a rapid execution of Trump’s tariff proposals if he secures a second term in office.
What Happened: Lighthizer has been engaging with investor groups, alerting them to the possibility of an expedited introduction of Trump’s tariff plans. These could encompass a 60% tariff on Chinese goods and a 10% tariff across the board, shortly after Trump’s potential entry into the White House, CNBC reported, citing analysts at Piper Sandler.
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While Trump’s campaign press secretary, Karoline Leavitt, did not refute these meetings, she underscored that no policy becomes official until Trump himself announces it, the report said. The specific investor groups that Lighthizer has been liaising with remain undisclosed.
Lighthizer, a key architect of Trump’s first-term trade policies, is currently advising Trump’s presidential campaign on economic matters, CNBC said. He also serves as the chair at the Center for American Trade at the Trump-aligned think tank America First Policy Institute.
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Why It Matters: Trump’s tariff plans have faced criticism from economists, who warn of increasing inflation. Trump, however, has insisted that tariffs would bring in “trillions of dollars” for the U.S. government.
Trump’s focus on tariffs was evident during his visit to Detroit earlier this month where he pushed for tariffs on Chinese cars and vowed to revamp the auto industry.
The former President’s approach to tariffs has been criticized by Kamala Harris, who called his plan to impose tariffs on U.S. imports reckless and poorly thought out.
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This article Trump’s Former Trade Advisor Warns Wall Street: Prepare For Swift Tariff Implementation If Ex-President Wins Second Term originally appeared on Benzinga.com
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