Jeffrey Sachs says Trump tariffs are a serious mistake

U.S. economist Jeffrey Sachs has criticised former President Donald Trump’s stance on tariffs, calling it a “serious mistake” that could harm the United States more than its trade rivals.

Speaking during the Open Dialogue forum in Russia, Sachs argued that the Trump administration’s tariff policies would fail to weaken countries like China or Russia if global trade continues to follow World Trade Organization (WTO) rules.

“President Donald Trump believes that tariffs will help the US economy. I disagree with that — it’s a serious mistake,” Sachs said.

He added that other nations could continue to grow despite U.S. trade barriers.

“I don’t think it will hurt Russia, China, or other countries that much. And I think the rest of the world can continue to grow and prosper despite this mistake by the U.S.,” Sachs explained.

The Trump administration promoted tariffs as a way to revitalise the domestic economy, with Trump even suggesting that tariff revenues could eventually replace income taxes for millions of Americans.

Sachs, a professor at Columbia University, has long been a critic of this strategy.

He previously called Trump’s tariff policy “childish and dangerous” and questioned Trump’s understanding of basic economics.

Referring to a list of proposed tariff rates by country, Sachs mocked the approach as unserious.

“I apologize to Mickey Mouse—he would not do this. Mickey Mouse is smarter than this,” he said.

As discussions around global trade continue, Sachs maintains that open trade aligned with WTO guidelines is more beneficial than protectionist measures.

He emphasised that misguided tariff strategies risk isolating the U.S. while leaving global trade flows largely unaffected.