Economics
Ex-Commerce Chief Says Trump Tariffs Could Damage U.S. Economy
- Penny Pritzker warns of ‘retaliation without any benefit’
- Obama cabinet member urges president to work with allies
Workers operate an electric arc furnace in the steel smelting shop in Stary Oskol, Russia.
Photographer: Andrey Rudakov/Bloomberg
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The tariffs on steel and aluminum levied by President Donald Trump could damage the U.S. economy and set off trade wars with American allies, according to former commerce secretary Penny Pritzker.
“The European Union has come out and said they’re going to go after our bourbon, Levi’s and Harley-Davidson because they all feel very targeted,” Pritzker said in an interview following a speech at the University of Michigan. “What happens to a relationship when you poke somebody in the eye? Will we get past it? Will there be lasting memories? We’re going to have to see.”