Ex-Trump adviser calls for lifting Trump tariffs on China

“These tariffs are adding to the cost of many goods that US consumers are buying,” Cohn told CNN. Cohn, now vice chairman at IBM (Cohn, a former top executive at Goldman Sachs, Of course, there are bipartisan concerns about China’s trade practices. Unwinding tariffs could undermine efforts to tackle such problems as theft of intellectual property, illegal subsidies and dumping cheap products into foreign markets. Not to mention the fact that China has not lived up to the Phase One trade agreement signed in early 2020. China has purchased only 57% of the US goods and services exports over 2020-2021 that it committed to under the agreement, according to estimates from the Earlier this month, Senators Elizabeth Warren and Bernie Sanders and Rep. Sean Casten called for “corporate guardrails” that would ensure the funding does not go towards enriching CEOs. The lawmakers called for conditions that would prohibit recipients of the funding from buying back their own stock, outsourcing jobs and repealing existing collective bargaining agreements. “Guardrails are needed to create and defend American jobs,” the lawmakers wrote in a letter. Cohn, however, argued that these restrictions would disincentive companies from investing in America.”If we put these guardrails on, what’s unfortunately going to happen is US companies will not take the money,” Cohn said. “They’ll take the money from foreign governments and they’ll build their facilities in foreign countries.”