John Bolton cautioned on Tuesday about the negative impact of Donald Trump’s tariffs, calling them a “form of economic illiteracy” that will ultimately benefit China on a global scale.
“Trump lacks a clear understanding of the situation,” Bolton stated in an interview with CNN’s Anderson Cooper. “He doesn’t grasp the mechanics of tariffs. He recently equated trade surpluses and deficits to a profit and loss statement, which is fundamentally incorrect.”
Bolton, a former national security adviser in Trump’s administration turned outspoken critic, criticized the President for placing the U.S. in a vulnerable position.
“Instead of uniting with our allies to address China’s long-standing intellectual property theft, we are engaging in disputes with our major trading partners and heading towards conflict with China,” Bolton explained.
“It is nonsensical and disheartening that more Republicans haven’t spoken out against this economic illiteracy,” he added.
Trump’s tariffs, which include a 104% tariff on Chinese imports, went into effect on Wednesday. China has vowed to respond with “resolute and forceful” measures.
