Donald Trump once vowed to "drain the swamp" tapping into populist frustrations with Washington, D.C, but a Wall Street Journal columnist warned that if the president-elect's plans for broad tariffs succeed, he'll do exactly the opposite: make the "bigger and slimier than ever."
Trump has proposed significant tariff increases on imports from several countries, including a 25% tariff on all goods imported from Mexico and Canada, and an additional 10% tariff on all goods imported from China. He's also proposed universal 10 to 20 percent tariffs on all imported goods.
On Thursday, Merrill Matthews, co-author of “On the Edge: America Faces the Entitlements Cliff," wrote in the Journal that if Trump "succeeds in imposing across-the-board tariffs, the swamp will grow."
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"The problem is that Mr. Trump’s tariff program would energize and empower these elites. By directing government to impose levies on allies and adversaries alike, he’d be giving more strength to the swamp monsters he’s supposed to be defeating," wrote Matthews.
Matthews said he hopes Trump is simply using tariffs as a bargaining chip to get China, Canada and Mexico to make concessions. But only Trump knows the true extent of his threat. Should he follow through and enact them, Matthews argued that the companies and people most impacted race to trade groups, public relations firms and lobbyists seeking help.
And the swamp grows.
"These outfits then encourage their clients to make sizable donations to elected officials and their political-action committees. That doesn’t ensure the elected officials will take the company’s side, but it can often open their doors for access," he said.
Matthews added: "Lobbyists then set up meetings and expensive meals with congressmen, their staffs, high-ranking bureaucrats or those who know them—especially former congressmen or Hill staffers now working for other lobbying firms. The supplicants plead their cases at these swanky dinners, explaining why they should be exempted from new tariffs or why their competitors shouldn’t be."
The higher the threat of the tariffs, the higher the stakes. And right now, the stakes have "never been higher," he said.
