An economist for former President Ronald Reagan, Art Laffer, believes that President Donald Trump’s will lead to a “boom time” in the United States.

He appeared on the Fox Business Network show ‘Kudlow’ on Monday where he spoke to host Larry Kudlow and assessed the ongoing negotiations.

“He’s the right guy to do it. He’s a master negotiator. Look, there’s no question just on an average tariff basis. Look, India has significantly higher barriers than we do. Vietnam does. China does. Taiwan does. South Korea does,” the host said.

“The European Union does. So he’s right. I mean, I support the thrust of the policy. I just don’t think, though, that the called reciprocity, I agree with you, it isn’t so much reciprocity now. It’s become a trade deficit thing. And we’re not going to wipe out trade deficits, even if that were desirable. We’re never going to wipe them out. So where does that leave us, Arthur? Where does that leave us?” he said to the former Reagan economist.

“Well, that leaves us with cutting tariffs and cutting trade barriers to trade all the way across the board, getting them to cut theirs way down to our level. That’s great to negotiate that. But to call Elon Musk a car salesman, which is what someone on the weekend thinks, that’s just outrageous,” the economist said.

“And when you look at all of this, look at the facts, look at what happens when we do put on tariffs and look at what happens when we reduce them. And when we reduce them, it’s under Kennedy and under Reagan. You write all that book,” he said.

“And Clinton, the economy boomed when we raised tariffs under Nixon. The economy collapsed. And, you know, Larry, it’s just it’s just common sense. Tariffs are a tax and we aren’t going to collect any 700 billion dollars in tariffs to lower income taxes. That’s silly. There’s a Laffer curve effect there,” the economist said.

“And let me tell you, when it was done before, you saw the volume of trade drop like a stone. It’s going to be a lose, lose, lose if they do something like that. And Trump’s not going to let that happen. He’s just not going to let it happen,” he said.