Prominent US economist Gary Hufbauer has sharply criticized recent tariff policies, calling them "a completely ridiculous economic policy" in an interview with CMG. The senior fellow at the Peterson Institute for International Economics (PIIE) warned that ordinary Americans will bear the brunt of these measures, with tariff-driven inflation likely to appear in consumer price index (CPI) data as early as October or November 2024.
Hufbauer emphasized that tariffs function as "hidden taxes on consumers," disproportionately affecting low- and middle-income households. His analysis aligns with growing concerns among business leaders about supply chain disruptions and rising production costs across manufacturing sectors.
The remarks come as global markets monitor US trade policy shifts and their ripple effects on Asian economies. Experts suggest multinational corporations may accelerate diversification of production bases across Southeast Asia to mitigate tariff-related risks.
