korrents

What Paul Krugman thinks about tariffs

@paul-krugman · 14 positions · 0 changes of mind

Trade economist, Nobel laureate in 2008 for his work on economic geography, professor emeritus at Princeton and the CUNY Graduate Center, and a New York Times columnist from 1999 to 2024. Now writes on Substack.

Everything they publish, on ppll ↗

Paul Krugman did not write this page.

We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.

6 dated positions, 2026, in their own words. Our reading of what Paul Krugman has said — not written or endorsed by them.

  1. Our readingReducing trade deficits and reviving manufacturing would not end the resentment fueling right-wing authoritarian movements.

    Their wordsCrude economic factors don’t explain the fascist shift in Germany. And Trumponomics, even if it worked (which it doesn’t) wouldn’t end the resentment feeding our own authoritarian movement.

    ↗Neo-Nazis and the Impotence of Trumponomicspaulkrugman.substack.com

    Interesting

  3. Our readingA country's large trade deficit in manufactured goods reduces its manufacturing employment below what it would be with balanced trade.

    Their wordsAmerica’s large trade deficit in manufactured goods does mean that we have fewer manufacturing jobs than we would if that trade were balanced.

    ↗Neo-Nazis and the Impotence of Trumponomicspaulkrugman.substack.com

    America

    Interesting
  4. 6 months earlier

  5. Our readingThe 2025 American tariffs did not reduce the trade deficit they were imposed to reduce.

    Their wordsIn fact, the U.S. trade deficit for all of 2025 was about the same as it was in 2024.

    ↗Attack of the Zombie Tariffspaulkrugman.substack.com 1st of 4 in this piece

    America

    Interesting

  7. Our readingThe tariffs did not revive American manufacturing; employment in it fell after they were imposed.

    Their wordsTrump also claimed that his tariffs would revive American manufacturing. In fact, manufacturing employment has declined since Liberation Day.

    ↗Attack of the Zombie Tariffspaulkrugman.substack.com 2nd of 4 in this piece

    America

    Interesting

  9. Our readingTariff revenue is real but far too small to make a dent in the American deficit.

    Their wordsRevenue from the Trump tariffs, even pre-Court, wasn’t enough to make a large dent in the deficit.

    ↗Attack of the Zombie Tariffspaulkrugman.substack.com 3rd of 4 in this piece

    America

    Interesting

  11. Our readingThe tariffs survived the case for them because their real purpose was the personal power they conferred.

    Their wordsIt has been clear from the beginning that a primary motivation for tariffs was that they empowered Trump personally.

    ↗Attack of the Zombie Tariffspaulkrugman.substack.com 4th of 4 in this piece

    motivation

    Interesting