Colbert accused the president of lying to American consumers over the real impact of increased tariffs.
Stephen Colbert has mocked President Donald Trump's handling of the escalating trade war with China, suggesting “one side will pay the price, but both sides will suffer.”
The president suggested Washington held the upper hand as China was paying billions in tariffs to the U.S. Treasury. On Monday, he reiterated the concept on Twitter, suggesting U.S. consumers had “no reason” to pay tariffs and that businesses would leave China to avoid paying increased tariffs. Speaking to Kudlow during an interview on Fox News Sunday, Wallace pointed out it would not be China to shoulder the burden of increased tariffs, but American importers who will pay what it is effectively a tax increase. In most cases, Wallace continued, the costs will then be passed onto the consumers in the U.S.
Colbert ridiculed Kudlow’s admission, sarcastically describing the U.S. stance as a “bold” approach. “Technically one side will pay the price, but both sides will suffer,” he said. “It’s a bold marketing strategy.”
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