Gary Cohn says Trump's tariffs 'totally hurt the United States' and 'collided' with the tax cut

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Gary Cohn says Trump's tariffs 'totally hurt the United States' and 'collided' with the tax cut
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When asked who he would support in the 2020 election, Cohn said: 'I'm leaving the door open. But at this point, I don't have any intention not to vote for the president.'

's tariffs hurt the U.S. economy and undermined the stimulative impact of the administration's massive tax cut passed in 2017., said Trump's steel and aluminum tariffs "collided" with his tax policy by undermining a provision that allowed companies to write off their capital expenditures.

"So all of the sudden, the advantages that we were trying to give companies to help stimulate the economy, to build facilities, to go out and hire people, to drive wages, we took away that advantage by taxing the input that they needed to build," Cohn told CBS. "The U.S. economy is strong and continues to be very strong," Cohn said. "The U.S. consumer is very strong. If you look at what's happened in the last couple of years with tax reform, we have put more disposable income in the hands of the U.S. consumer, and the U.S. consumer is out spending it."

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