Larry Kudlow: Tariffs, Native-Born Jobs, and Crippling Putin's Economy

Tariff Impact on the Economy

• 📈 The Wall Street Journal reports that tariffs have generated billions in revenue without causing an economic earthquake, meaning no tariff recession, inflation, or retaliation war.
• 📉 Imports from China have significantly decreased, falling below 2002 levels, contributing to a 2-year low in the US trade deficit.

Border Enforcement and Labor Force

• 💼 A report highlights that since January, foreign-born employment has fallen by 1 million, while native-born employment has increased by 2.5 million.
• 🚧 The border closure is deemed a major success by President Trump and has not crippled the labor market as predicted by many on Wall Street.
• 👨‍👩‍👧‍👦 Hispanic employment continues to rise, largely because the majority of Hispanics in America are native-born, a demographic that supported Mr. Trump in the last election.

Sanctions and Russia's Economy

• 🚫 President Trump has imposed a 25% tariff on India for continuing to buy oil from Russia, with potential for a 50% tariff if they persist.
• 🚢 The challenge of Russia's fleet of covert tankers is noted as a way they circumvent sanctions and tariffs.
• 💥 Cutting off Russian oil sales could cause the country to implode, removing its financial means to fight wars.
• 🏦 The US and EU hold approximately $300 billion in Russian central bank reserves, with America controlling $5 billion and the EU the rest.
• 💰 Confiscating Russia's financial crown jewels, such as central bank reserves, could be a powerful tool to cripple Putin and potentially send funds directly to Ukraine.