--- title: "'Trumponomics' Author Stephen Moore Criticizes Trump's Tariffs: 'Tariffs Are Taxes—And Taxes Are Bad'" description: "Stephen Moore, former economic advisor to President Trump, criticized the tariffs imposed by the Trump administration, labeling them as detrimental taxes that increase costs for businesses and consume" type: "news" locale: "en" url: "https://longbridge.com/en/news/261749544.md" published_at: "2025-10-19T07:54:37.000Z" --- # 'Trumponomics' Author Stephen Moore Criticizes Trump's Tariffs: 'Tariffs Are Taxes—And Taxes Are Bad' > Stephen Moore, former economic advisor to President Trump, criticized the tariffs imposed by the Trump administration, labeling them as detrimental taxes that increase costs for businesses and consumers. He highlighted the negative impact on medium-sized manufacturers and noted a 2.3% rise in the overall U.S. price level due to these tariffs. Despite concerns, Moore acknowledged that the U.S. economy has not entered a recession, attributing this to other Trump policies. The scrutiny of Trump's tariffs is growing, with many businesses passing costs onto consumers, while the rise of AI investment complicates the economic landscape. President **Donald Trump's** former economic advisor and author of "Trumponomics," **Stephen Moore**, criticized the tariffs imposed by the Trump administration. ## **Trump Tariffs Leading To Increased Costs, Says Moore** Moore argues that these tariffs have adversely affected the U.S. economy, leading to increased costs for businesses and consumers. Moore, who was instrumental in shaping Trump’s economic policies, expressed concerns over the tariffs’ impact on GDP and rising prices. He described tariffs as detrimental taxes, according to a report by Fortune. "Well, guess what? We put a 50% tariff on coffee. So, yeah, the coffee price went up," he said. ## **Medium-Sized Manufacturers Particularly Affected, Says Moore** Moore emphasized that medium-sized manufacturers have been particularly affected, citing a Wall Street Journal article that reported a significant rise in coffee prices due to a 50% tariff. Data from the **New York Fed** supports Moore’s claims, indicating that many firms have passed tariff costs onto consumers. The **Yale Budget Lab** reported a 2.3% increase in the overall U.S. price level due to new tariffs, resulting in a $3,800 loss in household purchasing power. Despite these challenges, Moore acknowledged that the U.S. economy has not entered a recession as some economists predicted. He credited other Trump policies, such as energy expansion and deregulation, for offsetting the negative effects of tariffs. However, Moore remains concerned about Trump’s direct interventions in pricing, which he believes deviate from free-market principles. "The best policy is always to have a system that benefits everyone," he said. "It shouldn't pick winners and losers." ## **Trump Tariffs Under Increasing Scrutiny** The criticism from Moore comes at a time when the economic impact of Trump’s tariffs is increasingly under scrutiny. The Federal Reserve’s Beige Book recently highlighted that these tariffs are leading to higher costs for businesses, with many passing the financial burden onto consumers. Despite this, the broader risks of a recession remain low, according to analysts. Moreover, the economic landscape is further complicated by a surge in investment in artificial intelligence (AI), which is masking the full negative impact of the tariffs. According to experts, while AI is propping up growth figures, other industries are quietly suffering under the weight of trade duties. Investor **Kevin O’Leary** has also weighed in, urging Trump to focus on preserving the American dream rather than targeting specific industries. O’Leary emphasized that capitalism, despite its flaws, remains the best system for everyone. - **Trump’s ‘Liberation Day Tariffs’ Have Backfired, Says Economist Paul Krugman: The Chinese ‘Know What They’re Doing,’ America Doesn’t** *Photo courtesy: Shutterstock* ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Trump Threatens To Block Opening of New Bridge Between Windsor and Detroit | Trump Threatens To Block Opening of New Bridge Between Windsor and Detroit | [Link](https://longbridge.com/en/news/275463290.md) | | Trump: Tennessee Valley Authority has taken action to save two major coal plants in Tennessee | Trump: Tennessee Valley Authority has taken action to save two major coal plants in Tennessee | [Link](https://longbridge.com/en/news/275663677.md) | | Analysis: Tariff burden falls almost totally on Americans | A new analysis from the Federal Reserve Bank of New York reveals that nearly all of President Trump's tariff increases a | [Link](https://longbridge.com/en/news/275986730.md) | | Trump is right: The UK Chagos deal is an 'act of great stupidity' | The proposed UK deal to transfer the Chagos Islands to Mauritius is criticized as detrimental to global security, partic | [Link](https://longbridge.com/en/news/275483769.md) | | Trump’s Fed chair pick argues there’s one key reason to lower interest rates. 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