KOCH BROTHERS NOT HAPPY. Charles and David Koch are launching a multimillion-dollar campaign against President Donald Trump’s tariffs

 – By Todd Horwitz, Bubba Trading

 

Koch Network to Fight Tariffs.

Three organizations financed by conservative billionaire industrialists Charles and David Koch are launching a multimillion-dollar campaign against President Donald Trump’s tariffs on imports. The groups said Monday that the multiyear initiative will include advertising, education of activists, lobbying, policy analysis and “grass roots mobilization.” The groups—Freedom Partners Chamber of Commerce, Americans for Prosperity and The Libre Initiative—released a list of trade recommendations that focus on encouraging competitive markets and eliminating tariffs.

The effort is an indication of the deep consternation among business groups—normally strong Republican allies—about the effect of the tariffs, which have angered foreign countries, rivals, and allies alike. It also serves as a message to Republican lawmakers to hold their ground against tariffs.

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This campaign makes a clear statement: Trade is a major priority for our network,” James Davis, executive vice president of Freedom Partners, said in a statement. “We will work aggressively to educate policymakers and others about the facts. Trade lifts people out of poverty and improves lives. It is critical to America’s future prosperity and our consumers, workers and companies. Tariffs and other trade barriers make us poorer. They raise prices for those who can least afford it.”

While Americans for Prosperity President Tim Phillips praised the administration for other economic policies, he did not hold back in denouncing the tariffs.
”The Trump administration has taken some incredibly positive steps for the American economy, but tariffs will undercut that progress and needlessly hamstring our full economic potential. There are better ways to negotiate trade deals than by punishing American consumers and businesses with higher costs,” Phillips said.

The White House announced Thursday that it would move ahead with import tariffs of 25 percent on steel and 10 percent on aluminum products coming from the EU, Canada, and Mexico. That led to immediate retaliation from Canada and Mexico, while the EU has yet to officially respond with trade barriers of its own.

Keep those stops tight
Todd “Bubba” Horwitz

IN ASSOCIATION WITH

Financial Markets & Political Commentary

 

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About the author

Todd Horwitz - Author of “Average Joe Options“. Todd began his trading career in 1980 at the CBOE. He was one of the original traders in the OEX & helped start the SPX. He is a member the CME where he trades S&P futures as well as foreign currencies & is a regular contributor to CNBC, Bloomberg, BNN, Fox & many other major news networks.