Eric Harley, Gary Mcnamara, Larry Cudlow discussed on Red Eye Radio

Automatic TRANSCRIPT

It's red eye radio he's eric harley and i'm gary mcnamara eight six six ninety redeye i was just looking through some some some information just for the last caller the i think steel revenue is roughly about eighty six billion a year steel production revenue the industry that uses stealing the country responsible for one trillion dollars in in revenue a year so that's why when we talk about it when you skyrocketed the cost of steel you affect a much bigger part of the economy and the other thing is when we talk about larry cudlow lot of people may not understand that larry cudlow you may not know who larry cudlow is worked for cnbc for years is an absolutely free absolute free trader when the president picked him a few months ago to be rob basically his chief economic adviser we said that's a great move it was a very positive mood we said oh good the president's probably moving away from tariffs and so when we just talked about in the last segment or two segments ago the fact that larry cudlow was on promoting well don't blame the president for this it's important to understand where larry cudlow stood just a just weeks before he decided to join the administration steel and aluminum way we may win in the short term but steel and aluminum users and consumers lose one of the ironies of trade protectionism is the tariffs and import quotas and what they do and what we do to ourselves in times of peace and with foreign nations due to us with blockades to keep imports from entering our country and the time of war or consider that we impose sanctions on us enemies such as north korea russia and iran because we want them to feel the economic pain of being deprived of imports but now we are imposing sanctions on our own country by the way written together by larry cudlow arthur laffer and stephen moore stephen moore the former campaign adviser economic adviser for president trump and it's very important understand and as we all know now larry cudlow chief economic adviser for president trump but now we.

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