In a recent interview with CMG, Gary Hufbauer, senior fellow at the Peterson Institute for International Economics, didn’t hold back, calling US tariffs “a completely ridiculous economic policy.” His warning highlights the direct impact rising trade barriers can have on everyday American life.
Hufbauer predicts that by October or November, the consumer price index (CPI) will reveal clear signs of tariff-induced inflation. For young professionals balancing rent, student loans, and daily expenses, even modest price hikes can tighten budgets and shift spending habits.
But the ripple effects won’t stop at US borders. Higher import costs can reshape global supply chains and influence decisions from startup founders in emerging markets to digital nomads scouting affordable destinations. When US policy alters the cost of goods, businesses worldwide recalibrate sourcing, pricing, and logistics.
As consumers across G20 nations keep an eye on costs, Hufbauer’s blunt assessment underscores the delicate balance policymakers must strike. For gig economy workers, small business owners, and travelers alike, the stakes are clear: trade policy isn’t just politics—it’s a price tag on everyday life.
Reference(s):
US researcher: US tariffs 'a completely ridiculous economic policy'
cgtn.com
