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Trump defends tariffs in Chicago, as economists warn his plan could add trillions in debt

Former President Donald Trump is interviewed by Bloomberg News Editor-in-Chief John Micklethwait during a luncheon hosted by the Economic Club of Chicago on Oct. 15, 2024.
Former President Donald Trump is interviewed by Bloomberg News Editor-in-Chief John Micklethwait during a luncheon hosted by the Economic Club of Chicago on Oct. 15, 2024.
Scott Olson/Getty Images

CHICAGO (WBBM NEWSRADIO) — Former President Donald Trump defended his positions on tariffs, immigration and the 2020 election in an appearance before the Economic Club of Chicago on Tuesday.

During an interview that lasted a little over an hour, the Republican presidential nominee dodged some questions on his dealings with Russian President Vladimir Putin, took jabs at Democratic rival Vice President Kamala Harris, and talked a lot about tariffs.


Trump rejected studies that suggest his plan to slap high tariffs on products from other countries would add more than $7 trillion to the nation's debt. They'll bring money in, he said.

"I brought in the tariffs, and I was just getting started, then COVID came, and we had a, which, you know — because I tell you what — I did a very good job in COVID. Nobody knew what the hell it was. I call it the China virus because I like being a little more accurate. But, when that came, we got hundreds of billions of dollars just from China alone."

Trump added: "To me, the most beautiful word in the dictionary is tariff. It's my favorite word. It needs a public relations firm."

In the wake of Trump's visit, Illinois Gov. JB Pritzker and Chicago Mayor Brandon Johnson both released statements criticizing Trump's economic policies.

On immigration, he told the Economic Club he wants people to come to the U.S. legally but characterized many of those who are coming as murderers, criminals and people from mental hospitals.

As Trump's visit took place, about a dozen demonstrators gathered in the rain to protest the former president's appearance in Chicago.

Hatem Abudayyeh, of the U.S. Palestinian Community Network, spoke outside the Fairmont Hotel with harsh words for Trump.

"We're here because the progressive movement in Chicago does not allow racists to come to our city," he said.

There was also criticism, though, of Harris, specifically over U.S. policy on the Israel-Hamas war. Activist Omar Flores was among those who spoke.

"Northern Gaza is on fire, and the Democrats have done nothing but support this behavior," Flores said. "They're sending out troops to supposedly defend Israel."

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