Source: Paul Krugman
by Paul Krugman
“[A]bsent another toddler tantrum, we may be reaching peak Trump tariffs. But don’t celebrate. Trump’s chaotic tariff policies inflicted three types of economic damage: higher prices for American producers and consumers, economic uncertainty, and the global loss of American credibility. Even if the worst in terms of prices and uncertainty is over, it’s clear that Trump’s tariffs have inflicted lasting damage on the US economy as well as the global economic order.” (10/30/25)
https://paulkrugman.substack.com/p/how-we-lost-the-trade-war