‘Our economy will suffer’: Former US secretary of commerce criticises Trump’s tariffs
Former US secretary of commerce Gary Locke has criticised US President Donald Trump over his tariffs, as the economy “will suffer”.
“This is very serious because so much of what Americans consume every single day, and even businesses use as components every single day, is components they manufacture from China,” Mr Locke told Sky News Business Editor Ross Greenwood.
“With these tariffs … are over 150 per cent. That means the retail establishments, our Walmarts, our Home Depots, our Target stores and Costcos and Nordstroms – when they order something from China, they’re going to have to pay more than twice the price of what they normally pay.
“That’s going to get passed onto the consumer.”
