Paul Krugman: ‘Tariffs Are Almost Never the Right Answer’

SCARBOROUGH Can you talk ░░░░░░░░ a proper use of ░░░░░░░░ We played earlier in ░░░░░░░░ week a Dick Gephardt ░░░░░░░░ from 1988 it s ░░░░░░░░ Hyundai commercial when he ░░░░░░░░ you know the question ░░░░░░░░ the end of it ░░░░░░░░ you pay 54 000 ░░░░░░░░ a Hyundai The question ░░░░░░░░ when do you think ░░░░░░░░ can effectively be used ░░░░░░░░ protect American workers protect ░░░░░░░░ jobs KRUGMAN Well you ░░░░░░░░ the textbook economics I ░░░░░░░░ know I ve written ░░░░░░░░ couple of textbooks there ░░░░░░░░ that actually tariffs are ░░░░░░░░ never the right answer ░░░░░░░░ you want to promote ░░░░░░░░ S manufacturing promote U ░░░░░░░░ manufacturing Have an industrial ░░░░░░░░ that subsidizes it that ░░░░░░░░ to push it forward ░░░░░░░░ the Biden Administration did ░░░░░░░░ maybe on a sufficient ░░░░░░░░ but they certainly did ░░░░░░░░ a lot of that ░░░░░░░░ are a very blunt ░░░░░░░░ And you know in ░░░░░░░░ sometimes there s no ░░░░░░░░ Certainly the politics of ░░░░░░░░ tariff are a lot ░░░░░░░░ than the politics of ░░░░░░░░ subsidy which is why ░░░░░░░░ S law does give ░░░░░░░░ discretionary authority to impose ░░░░░░░░ to protect national security ░░░░░░░░ deal with sudden surges ░░░░░░░░ imports but they really ░░░░░░░░ be used very sparingly ░░░░░░░░ this kind of across ░░░░░░░░ board Trump has the ░░░░░░░░ week s tariff policy ░░░░░░░░ know we re having ░░░░░░░░ changes in tariff policy ░░░░░░░░ by week but last ░░░░░░░░ s tariff policy was ░░░░░░░░ hitting everybody with tariffs ░░░░░░░░ is a really bad ░░░░░░░░ but hitting everybody with ░░░░░░░░ different tariffs which was ░░░░░░░░ worse because it would ░░░░░░░░ created all kinds of ░░░░░░░░ So yeah I mean ░░░░░░░░ s not really clear ░░░░░░░░ this is supposed to ░░░░░░░░