US President-elect Donald Trump’s push to impose tariffs on China could ironically trigger a surge in US inflation, according to economist Richard Wolff. The University of Massachusetts professor told The Real News Network that such policies might “hurt American wallets more than they help.”
💡 Wolff argues tariffs would raise prices for everyday goods imported from the Chinese mainland, squeezing consumers already battling high living costs. “It’s like shooting yourself in the foot to scare your neighbor,” he quipped, highlighting the risk of a lose-lose scenario for both economies.
🌐 With young professionals and entrepreneurs closely watching global markets, Wolff’s warning underscores how trade policies could ripple through everything from tech gadgets to clothing prices. For the Asian diaspora and students tracking cross-strait dynamics, this adds urgency to understanding economic interdependencies.
📉 “Inflation isn’t just a number – it’s fewer groceries in your cart or delayed career plans,” Wolff added, linking macro trends to Gen Z realities. As debates heat up, one thing’s clear: the tariff tug-of-war might leave everyone’s pockets lighter.
