Overview

• Joseph Stiglitz, a Nobel Prize-winning economist, cautions that President Trump's trade and economic policies risk causing stagflation—high inflation, stagnant growth, and rising unemployment.
• Stiglitz criticizes the unpredictability of tariffs and trade agreements, which he says create uncertainty for corporations and deter global investment in the U.S.
• Recent tariff announcements include 25% levies on Canada and Mexico, though these have been temporarily paused, and new reciprocal tariffs targeting other countries individually.
• Economists broadly agree that Trump's tariffs will increase prices, with limited currency exchange rate adjustments to offset the impact, fueling inflation concerns.
• Stiglitz describes the U.S. as a 'scary place to invest' due to policy unpredictability, abandoned government contracts, and potential long-term harm to the global economy.