Economist Steve Moore and former member of White House Council of Economic advisors Tomas Philipson discuss President Donald Trump’s tariffs on foreign countries on ‘The Bottom Line.’

It seems the whole world and the entire liberal media are hyperventilating over the Trump tariffs and their inflationary impact. Many of the sharpest critics of President Donald Trump’s policies are the same "experts" who assured us four years ago that President Joe Biden's policies wouldn't cause inflation. Oops!

Then there is the argument put forth by the New York Times and many economists like Mark Zandi of Moody’s that Trump’s tariffs are inflationary and so are his tax cuts.

Hello! Tax cuts and tax increases both can't cause inflation. This is political advocacy dressed up as (bad) economics.

Inflation is a government-generated disease induced by fiscal and monetary policy that leads to too many dollars chasing too few goods. Anything that increases money puts pressure on consumer prices and anything that increases the supply of goods produced reduces inflationary pressures.

HERE'S HOW TRUMP'S TARIFFS ON CHINA COULD IMPACT DRUG PRICING AND OTHER HEALTHCARE COSTS

As economists who believe in free markets, we aren’t fans of higher taxes in general, including tariffs, and........

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