Haley hits Trump on tariffs ahead of Wall Street fundraiser

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Watch the full CNBC interview with 2024 presidential candidate Nikki Haley

Former South Carolina Gov. Nikki Haley drew a sharp line Monday between her views on trade and tariffs proposed by her rival, Republican candidate Donald Trump.

“This is a guy who now wants to go and impose 10% tariffs across the board, raising taxes on every American. Think about that for a moment,” Haley said on CNBC’s “Squawk Box.”

Trump has repeatedly proposed the idea of ​​imposing a comprehensive 10% tariff on all imported goods.

“What Donald Trump intends to do is he will raise every household’s expenses by an amount $2600 “For a year,” Haley said, citing a figure from the National Federation of Fiscally Conservative Taxpayers.

“This will raise the cost of anything from strollers to appliances, under Donald Trump,” she added. “Middle-class families can’t afford it.”

In addition to the proposed 10% global tariff, Trump also privately discussed a massive 60% tariff that would be applied to all imports from China, Washington Post Reports.

Over the weekend, Trump suggested that tariffs are the way to force automakers to manufacture cars in the United States.

“[I] “It will require China and other countries, through tariffs, or otherwise, to build factories here, with our workers,” Trump wrote on Truth Social.

Experts say it is difficult to determine the effects of the size of the trade wars proposed by Trump.

“They can’t model that, because they don’t really understand what the effects of the second and third orders are, and more importantly, they don’t realize that Trump isn’t talking about a 10% tariff just because it’s a 10% tariff.” tariff,” Michael Ivery, a global strategist at Rabobank, recently told CNBC.

Trump “talks about structurally breaking up the global order, by hook or by crook, to fundamentally remanufacture the United States… and put a barrier between it and the rest of the world so that it is cheap to produce in America and more expensive to manufacture.” “You’re producing elsewhere if you’re importing to America,” Kul said.

It is estimated that Trump’s trade war with China while he was in office cost 245,000 American jobs, according to the report. US-China Business Council.

This, combined with the tariffs proposed by Trump if he is elected to a second term, has many Wall Street investors deeply concerned about what the global economy might look like in a second Trump administration.

These concerns have stacked up in Haley’s favor, and she has consistently enjoyed the support of Wall Street donors.

Haley was under pressure from these donors to win in New Hampshire after finishing third in the Iowa caucuses. Last week, CNBC reported that LinkedIn co-founder Reed Hoffman did not plan to give Haley any more money after her second-place finish in New Hampshire.

But that hasn’t slowed Haley’s fundraising efforts. Haley’s campaign says she raised $4 million just last week, a huge sum for the former UN ambassador’s presidential bid.

The campaign also includes more than 10 high-profile fundraisers scheduled to take place in the coming weeks, many of which will be in New York City on Monday and Tuesday.

Hosts of Tuesday night’s event include Home Depot co-founder Ken Langone and billionaire investor Stanley Druckenmiller.

Haley also pledged to stay in the race and said her campaign will continue until the February 24 South Carolina primary in her state.

“It’s not over yet,” Haley told CNBC. “And what I will tell you is, look, (Trump) has been literally on the fritz ever since I got 43% of the vote in New Hampshire.”

This article originally appeared on www.cnbc.com

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