FOX Business Network scoured the markets to find one segment in the US economy that loved Trump's tariffs they came up with Gulf Coast shrimpers.
After doing a report on it Fox Business turned to John Lonski to comment on it.
He quickly destroyed the idea that tariffs on importers of shrimp will actually help US shrimpers, noting that it will instead hurt consumers.
HOST: John, what do you make of this? That there are certain industries in this nation that will benefit from?
LONSKI: Yeah, there are. It's good news for the shrimpers. That's good to hear.
On the other hand, it's not good news for American consumers of shrimp.
This probably means higher prices than otherwise. A one time increase in prices.
That might be it. So there's a trade off involved there.
As I mentioned earlier, that's all that always has been the problem with tariffs.
Yeah, we want to help these people that are hurt because they lose jobs to foreign competition.
But if we go ahead and try to, uh, make them more competitive, uh, by, um, uh, reducing foreign access to U. S. Markets, that's at the cost of higher prices for all consumer.
Tariffs benefit few at a cost to many.
Lonski, like many economists, hates tariffs.
Fox News will try to continually put lipstick on the pig Trump and his maddening love of tariffs.
Lonski would have none of it at least in this brief segment.
( I do love shrimp!)
