Joseph Stiglitz, a Nobel Prize-winning economist, has called out former U.S. President Donald Trump’s proposed tariffs as a ‘flawed’ attempt to revive American manufacturing, arguing it’s more ‘Back to the Future’ fantasy than viable economic policy. 🌍💡
Stiglitz highlighted that modern factories rely heavily on robots 🤖, meaning job creation would be minimal—despite Trump’s nostalgic vision of a 1950s-style industrial boom. ‘Tariffs won’t magically fix supply chains or logistics gaps,’ he warned, noting that companies face sky-high costs and infrastructure hurdles to relocate operations to the U.S.
The economist also cautioned that Trump’s plan could backfire, disrupting global trade networks and limiting access to everyday goods for American consumers. ‘This isn’t revival—it’s regression,’ Stiglitz said, urging policymakers to focus on innovation over protectionism. 📦🚚
