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Even the author of ‘Trumponomics’ admits ‘tariffs are taxes—and taxes are bad’

Fortune•Saturday, October 18, 2025 at 1:35:00 PM
NegativeFinancial Markets
Even the author of ‘Trumponomics’ admits ‘tariffs are taxes—and taxes are bad’
In a candid admission, Stephen Moore, a former economic advisor to Trump, has expressed concerns about the negative impact of tariffs on economic growth and consumer prices. Speaking to Fortune, he highlighted that tariffs essentially act as taxes, which he believes are detrimental to the economy. Moore also voiced apprehension over Trump's recent comments regarding price controls on essential goods like drugs and beef, suggesting that such interventions could further complicate economic stability. This matters because it reflects a growing unease among even Trump's allies about the long-term effects of his economic policies.
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