“These tariffs are adding to the cost of many goods that US consumers are buying,” Cohn told CNN.
Cohn, now vice chairman at IBM (IBM), is a vocal advocate of free trade and frequently clashed with Trump officials who favored tariffs.
“Overall, some of the tariffs make sense. But a lot of the tariffs just act as a consumption tax,” he said.
Cohn, a former top executive at Goldman Sachs, announced his departure from the Trump administration in March 2018 after Trump vowed to impose steel and aluminum tariffs.
“There’s a variety of views on trade. My view on trade is pretty simple. If we manufacture something here in the United States, we should protect our manufacturers,” Cohn told CNN. “If we don’t manufacture something here in the United States, and we’re not going to manufacture here in the United States, I don’t believe we should put a tariff on it.”
Won’t solve inflation
Biden on Tuesday said he plans to speak to Chinese President Xi Jinping as the US president considers whether…
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