Justice Department wins lawsuit to undo JetBlue, American Airlines partnership in the Northeast
2023-05-20 04:42:39
Donald Trump’s longtime trade adviser is apparently telling Wall Street money managers that if the Republican presidential nominee is reelected, he could start implementing his sweeping tariff proposals quickly after taking office, according to policy analysts at Piper Sandler. “We’ve heard from a number of clients that Trump’s former US Trade Representative, Robert Lighthizer, has been meeting with investor groups and telling them that Trump could announce 60% Chinese tariffs and 10% across-the-board tariffs shortly after taking office,” wrote the trio of research analysts at the investment bank in a note Friday. Asked about the note, Trump campaign press secretary Karoline Leavitt did not deny that Lighthizer has been meeting with investors. But she cautioned, “No policy should be deemed official unless it comes from President Trump directly.” It was not immediately clear which groups have spoken with Lighthizer, and the Piper Sandler analysts did not reply to a request from CNBC for more details. But clients of the firm would likely be large asset management firms that pay for its stock and economic research. Lighthizer is advising Trump’s presidential campaign on economic issues, according to Inside U.S. Trade. A key player in crafting and enacting Trump’s first-term trade policies, Lighthizer is also seen as a top prospect for a number of senior posts in a potential Trump Cabinet, including commerce secretary and treasury secretary. He currently serves as chair of the Center for American Trade at the Trump-aligned Washington think tank, America First Policy Institute. A spokesperson for AFPI did not reply to a request for comment. Lighthizer is also a director of Trump Media, the publicly traded social media company that is majority owned by the former president. Lighthizer’s reported conversations, and his apparent influence with Trump, both underscore how central tariffs are to carrying out Trump’s overall economic vision. Numerous economists and tax experts have warned that Trump’s expansive tariff plans will raise prices, lower U.S. gross domestic product and hurt employment in key industries. Democratic presidential nominee Kamala Harris has repeatedly cited a progressive group’s analysis that Trump’s tariffs could equate to a nearly $4,000 tax increase for the average U.S. family. The Trump campaign stressed to CNBC that Trump’s tariff ideas should be viewed in concert with his broader plans, which include slashing regulations, ramping up U.S. oil drilling and deporting millions of undocumented immigrants. Republican National Committee spokeswoman Anna Kelly also noted that Harris and President Joe Biden have maintained, and in some cases boosted, many of the tariffs from Trump’s first term in office. “Harris has always opposed tariffs because she can’t be trusted to put workers first, but President Trump will re-shore American jobs, keep inflation low, and raise real wages by lowering taxes, cutting regulations, and unshackling American energy,” Kelly told CNBC in a statement.
