Kudlow Said Trump’s Policies Would Lead to Depression

CNN has found audio of White House economic adviser Larry Kudlow ripping Donald Trump’s proposed trade policies during the 2016 presidential campaign.

Said Kudlow: “Lower tariffs equals lower taxes equals growth. In the 1930s high tariffs, Smoot-Hawley tariffs, equals high taxes, equals depression. It’s that simple. Too many Republicans on the campaign trail are flirting with protectionism. Trump is the worst, but he’s not the only one.”

He added: “He wants to stop trading with China. He wants to stop trading with Mexico. Lord knows who else he wants to stop trading with. These are huge trading partners of ours. There are political issues that need to be resolved, but you never cut off your nose to spite your face, do you? That’s what Trump is doing. Too many Republicans are flirting with protectionism. Protectionism is anti-growth, protectionism, protectionism led to the depression of the 1930s.”