Anthony Scaramucci, the outspoken investment banker and former White House Communications Director, criticized the Trump administration's enduring trade disputes, arguing the tariffs ultimately hurt the American people.
"The current trade war and the strategy of using tariffs is a flawed strategy," Scaramucci told Cheddar on Tuesday.
Scaramucci said that tariffs, which are essentially taxes, especially hurt Americans making less that $100,000 annually. "They eat up their living standards," he said.
Scaramucci is a prominent New York financier and the founder of Skybridge Capital. He served a brief stint as White House Communications Director in 2017, which gave him what he called an "11-day PhD" on Washington culture. His tenure was cut extremely short after he gave an interview to The New Yorker in which he criticized other members of the administration with expletives and derogatory language.
"By using the tariffs, you have this effect of slowing down the economy and creating a level of unpredictability for CEOs large and small around America," Scaramucci said.
Since taking office, Trump has threatened punitive tariffs against several countries ranging from Mexico to India. The White House most notably implemented tariffs on $250 billion worth of Chinese imports in 2018, and has threatened to levy more on an addition $300 billion worth of goods.
ReturnPro CEO Sender Shamiss to discuss how his company is changing the way we make returns and how Trump's tariffs are affecting the return business. Watch!
Chris Beauchamp, Chief Market Analyst at IG International, joins J.D. Durkin to give analysis on the recent trade truce between the U.S. and China. Watch!
Shan Aggarwal, VP of Corporate and Business Development at Coinbase, discusses the company's acquisitio of Deribit as it heads into the S&P 500. Watch!
Shopping expert Trae Bodge discusses how talks between the U.S. and China is good news for now, but uncertainty remains for back-to-school and the holidays.
Jake Traylor, White House reporter at Politico, joins Cheddar to discuss how Trump is aiming to lower drug prices and how it differs from Biden's approach.
DJ X, alongside Molly Holder, Senior Director of Product Personalization, takes us inside Spotify's A.I. DJ and how it's the best new way to listen to music.
Sheryl Palmer, CEO of Taylor Morrison, talks tariff uncertainty, being a female leader in a male dominated industry and what homebuyers need to know. Watch!
