The global economy that will greet President-elect Donald Trump’s next term is much different than the one that existed in his first term, potentially putting the U.S. in an advantageous spot for his tariffs, a top Ivy League economist said.
In a New York Times op-ed on Friday, Eswar Prasad, senior professor of trade policy and professor of economics at Cornell University, pointed out that the U.S. is strong while the rest of the world is in “a deep economic funk,” enabling it to weather a tariff war better.
“No matter the virtues of these policies, they could end up hurting other countries a lot more than they hurt American consumers, making the United States look like a winner,” he wrote.
Trump made tariffs part of his core message for his reelection bid. On the campaign trail, he vowed to impose duties as high as 20% across the board while singling out China with…
