Fareed Zakaria warned that Donald Trump's tariff reversal signals a shift toward crony capitalism, where political favoritism could undermine America’s free-market principles. (Video Screenshot)
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Political commentator Fareed Zakaria criticized former President Donald Trump’s recent tariff reversal on Sunday, warning it could usher in a new era of corruption and crony capitalism.
Trump paused his sweeping tariffs for 90 days — except on China — despite previously refusing to ease trade penalties and attacking those who urged him to do so.
Zakaria, speaking on his CNN program, said the shift risks transforming the U.S. from a model of free-market principles into “the leading example of crony capitalism.” He pointed to studies from Trump’s first term that found companies with Republican ties were more likely to receive tariff exemptions.
“The American bazaar is now open,” Zakaria said, warning that foreign governments and businesses will flood Washington seeking special deals and exemptions.
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