Trump gets into heated exchange with journalist over plan to impose high tariffs: ‘You’ve been wrong all your life’

Former President Donald Trump got in a heated exchange with Bloomberg Editor-in-Chief John Micklethwait on Tuesday when talking about tariffs — telling the journalist he’s been “wrong” his entire life.

Micklethwait repeatedly asked Trump at The Economic Club of Chicago how he would enact high tariffs on foreign companies without getting an economic blowback on the American consumer in exchange — as the current US economy is intertwined with China and the EU.

“The overall effect could be massive,” the editor said, adding that Trump is set to launch the US into a “trade war.”

Trump replied of his proposed policy: “It’s going to have a massive effect — positive effect. It’s going to be a positive effect.”

“It must be hard for you to spend 25 years talking about tariffs as being negative and then have somebody explain to you that you’re totally wrong,” the former president jabbed.

The two continued to have fiery back-and-forths throughout the interview.

Micklethwait pressed Trump on what he thought of critics who claim imposing such large tariffs would bring the cost back onto the consumer who wants to buy foreign goods.

“Critics say your tariffs will end up being like a national sales tax,” Micklethwait said. “America, at the moment, has $3 trillion worth of imports. You’re going to add tariffs to every single one of them. That is going to push up the cost for all those people who want to buy foreign goods.

“Isn’t that simple mathematics, President Trump?” the interviewer asked.

Trump fired back, “Yeah, it is, but not the way you’ve figured. I was always very good at mathematics.”

The former president claimed that under his policies, the astronomical tariffs on foreign businesses will make them set up shop in the US instead.

“You know, there’s another theory,” Trump said. “The tariff you make it so high, so horrible, so obnoxious, that they’ll come right away.”

“The higher the tariff, the more likely it is that the company will come into the United States and build a factory in the United States so it doesn’t have to pay the tariff.”

The Bloomberg editor also pointed to some of Trump’s promises — such as making car-loan interest tax-deductible — as adding to the national debt.

Micklethwait said other publications have also criticized Trump for “running up an enormous debt” with his policies of wanting to have no taxes on tips, social security and over time.

“They’ve been wrong about everything. So have you, by the way, you’ve been wrong,” Trump said to Micklethwait.

The editor-in-chief rebutted that Trump was trying to turn the exchange into a “debate.”

“But you’re wrong, you’ve been wrong,” Trump argued after saying his policies would bring “growth” instead. “You’ve been wrong all your life on this stuff.”

Both Trump and Democratic presidential foe Vice President Kamala Harris have promised voters that their administrations would give them tax breaks or subsidies to increase their economic standing.

Harris has said she would increase the Child Tax Credit, give new homeowners $25,000 for their down payments, have no taxes on tips and up tax deductions for new small businesses from $5,000 to $50,000.

The former president has said he will make tariffs high for foreign companies and will also give incentives to companies who move their operations to the US in order to boost manufacturing at home.

The 45th president, speaking in Georgia in September, promised 15% corporate tax rates, fewer regulations, low-cost energy and access to both federal land and port infrastructure, but only if the companies hire American workers and move to the US.

He has threatened to put a 100% tariff on every car that comes across the Mexican border and has directly told the machinery company John Deere that if it moves abroad, he would impose a 200% tariff on its products.

Trump has said that if elected, foreign countries will be worried about losing their companies to the US.

“American workers will no longer be worried about losing your jobs to foreign nations. Instead, foreign nations will be worried about losing their jobs to America,” Trump said in his Savannah remarks.