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The Trump tariffs: an unpleasant political economy rationale

Author

Listed:
  • Mark Setterfield

    (Department of Economics, New School for Social Research, USA)

Abstract

According to Blecker (2027), while tariffs per se are not always and everywhere unwarranted (Blecker, 2026), the Trump tariffs will fail on their own terms. Making this argument necessitates suspending disbelief, so as to interpret the Trump tariffs as economic policy -- something that various commentators, who regard the tariffs as no more than political theatre, refuse to indulge. The argument here is that distinguishing between political chicanery and economics in this fashion involves a false dichotomy. Acknowledging the potential relationship between the two permits analysis that points towards an unpleasant political economy rationale for the Trump tariffs.

Suggested Citation

  • Mark Setterfield, 2026. "The Trump tariffs: an unpleasant political economy rationale," Working Papers 2610, New School for Social Research, Department of Economics.
    • Handle: RePEc:new:wpaper:2610
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    File URL: https://repec.economicpolicyresearch.org/econ/2026/NSSR_WP_102026.pdf
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    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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