Renowned Harvard economist Dwight H. Perkins has issued a stark warning about the long-term consequences of Trump-era tariffs, arguing they could destabilize both the U.S. economy and global markets. In an exclusive interview with CGTN, the emeritus professor criticized the policies as 'misguided' and rooted in a 'lack of macroeconomic understanding.'
Perkins emphasized that while tariffs may offer short-term political gains, their prolonged use risks triggering a global economic slump. 'Trade wars undermine the interconnected nature of modern economies,' he noted, highlighting potential ripple effects in Asian markets crucial to global supply chains.
The analysis holds particular significance for Asia's business leaders and policymakers, as escalating trade barriers could disproportionately impact export-driven economies in the region. Investors and researchers are advised to monitor evolving U.S.-China trade dynamics, which remain pivotal to Asian economic stability.
