Economists Call Trump’s Tariffs, 'Malignant Stupidity'

Top economists have fiercely criticized former U.S. President Donald Trump’s sweeping import tariffs, warning of global economic fallout and recession risks. French economist Thomas Piketty called “Trumpism” a response to the failure of Reagan-era liberalization, arguing that Republicans are scapegoating global trade to mask domestic inequality. 

Nobel laureate Paul Krugman labeled the move “malignant stupidity,” asserting that Trump destroyed a trade system the U.S. itself had built, driven more by ego than economic rationale. 

He warned this undermines trust in the U.S. globally. Lebanon’s ex-economy minister Nasser Saidi highlighted the harsh impact on developing nations, especially in the Middle East, due to disrupted trade and lost investment. 

African economist Kako Nubukpo echoed these concerns, suggesting Trump's policies mark the end of globalization and likened them to “neo-mercantilism.” He urged African nations to strengthen regional trade to withstand the growing wave of protectionism.