Economist Steve Moore cautioned foreign nations on Tuesday that retaliating against President Donald Trump’s tariffs would harm their own economies. Moore’s warning comes as Trump announced an increase in tariffs on Canadian steel and aluminum in response to Ontario’s 25% tariff on electricity exports to the U.S.
Trump revealed on Truth Social that he instructed the Commerce Department to double the initial 25% tariff on Canadian steel and aluminum, effective Wednesday. On Fox News’ The Faulkner Focus, Moore argued that if Canada, Mexico, China, and other countries continue to retaliate against Trump’s policies, they will ultimately hurt themselves while failing to pressure the U.S. into concessions.
“I’m not the hugest fan of these tariffs, but I’ll tell you, I think that these other countries, like Mexico, China, and Canada, are making a huge mistake in thinking they can win a tit-for-tat game on this,” Moore told host Harris Faulkner. “Trump will not relent here, and all they’re doing is ruining their own economy.”
Trump has repeatedly criticized Canada’s trade policies, pointing out that the country imposes tariffs ranging from 250% to 390% on various American dairy products. He warned that if Canada does not adjust its policies, he will introduce additional tariffs on cars starting April 2.
“At the end of the day, Harris, what I’m going to predict is that Trump will prevail here ’cause he’s a winner. I would never bet against Donald Trump,” Moore said. “And I believe what’s going to happen is these other countries are going to be forced to lower their tariffs, and I actually think we’ll have freer but fairer trade.”
Moore emphasized that other nations, including European countries, have significantly higher tariffs than the U.S. and would need to lower them. “If these countries think they can bully Trump, they’ve got it completely wrong. That’s not a game they can win,” he added.
On March 4, Trump imposed 25% tariffs on Mexico and Canada, along with a 20% tariff on China, citing their roles in allowing illegal immigration and fentanyl trafficking into the U.S. However, he later announced that tariffs on Mexican imports would be postponed for about a month.
