Economist Joseph Gagnon argues that tariffs and the shuttering of USAID won’t resolve the US national deficit.
Though cost cuts pursued by US President Donald Trump may be popular among many Americans, economists differ in their assessment of these measures’ potential outcomes.
Peterson Institute for International Economics senior fellow Joseph Gagnon tells host Steve Clemons that Trump’s idea that tariffs on imported goods can replace taxes is unrealistic.
The United States government is bloated and needs modernisation, Gagnon argues. But while measures including firing thousands of federal employees and gutting USAID can save billions, what impact could they have on the national economy and on the country’s trillions of dollars in debt?
Join the conversation on the long-term implications of Trump’s “major reform” of the US government.