In a recent MSNBC interview, University of Michigan economist and public policy professor Justin Wolfers delivered a stark assessment of the Trump administration’s trade tactics. He labeled the president’s tariff policies “chaotic” and highlighted a critical flaw: they lack formal approval from the US Congress.
According to Wolfers, these tariffs, which target a broad array of imports, are already rippling through global supply chains and hitting consumers where it hurts most—raising everyday prices. “These measures haven’t brought back manufacturing jobs,” he told MSNBC, underscoring that factors like automation and international competition play bigger roles in factory employment trends.
Beyond the price hikes, Wolfers pointed to the uncertainty created by unpredictable policy shifts. Entrepreneurs and investors, whether in Silicon Valley startups or emerging-market ventures, struggle to plan when trade rules change on a whim. This volatility can stall innovation, deter cross-border partnerships and slow economic growth worldwide.
The debate now turns to solutions: can trade barriers alone reshape domestic manufacturing, or is a broader strategy needed—one that combines skills training, technology investment and sustainable practices? For Wolfers, the answer is clear: without a coherent, Congress-backed framework, tariffs risk becoming little more than an extra cost burden for both consumers and businesses around the globe.
Reference(s):
cgtn.com
