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Trump Former Advisor Backtracks: Tariffs Are Essentially a "Stealth Tax" or Drag on the Economy and Employment
BlockBeats News, December 31st - Stephen Moore, a conservative economist who served as a senior economic advisor during Trump's first term, recently publicly questioned the Trump administration's large-scale tariff policy, calling it essentially a "hidden tax" on consumers that could drag down economic growth and weaken employment.
Moore stated, "Tariffs are taxes, and taxes are never a good thing," a stance that starkly contrasts with his past support for trade protectionism. He pointed out that although tariffs are seen by the government as a tool to revitalize manufacturing and fund tax cuts, their costs often end up being passed on to consumers, driving up prices and exacerbating inflation.
Multiple research institutions have shown that a new round of tariff policy to be implemented by 2025 could increase the tax burden by around $1.2 trillion over the next decade, leading to a roughly 0.4% decline in U.S. GDP and a reduction of 344,000 jobs. Moore also acknowledged that the regressive nature of tariffs would have a greater impact on low- and middle-income families.
Moore called for targeted, time-limited tariff implementation if continued, while also advocating for quick tax cuts to offset the negative impact. His shift in position is seen by observers as a sign of deepening internal divides within the Trump camp between free-market principles and trade protectionism, adding uncertainty to the direction of U.S. economic policy in 2026.
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