Trump tariffs won't last, 'not a sustainable policy': Nobel-winning economist Robert Shiller
- Trump's corporate tax cuts are probably here to stay but it's a different story for his tariffs, says Nobel Prize-winning economist Robert Shiller.
- “They are generating so much anger around the world," he says.
- He believes the U.S. antagonism of its allies will eventually harm confidence.
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President Donald Trump’s corporate tax cuts are probably here to stay but it’s likely a different story for his tariffs, Nobel Prize-winning economist Robert Shiller told CNBC on Monday.
That’s because they are “too crazy,” said Shiller, a professor of economics at Yale University.
“They are generating so much anger around the world. It’s not a sustainable policy,” he said on “Power Lunch"
Trade tensions have been escalating between the U.S. and the rest of the world. On Sunday, The Wall Street Journal reported that Trump plans to bar several Chinese companies from making investments in American technology.
Meanwhile, last week, a flurry of back-and-forth tariff threats continued between the U.S. and China, as well as between the U.S. and the European Union.
His latest tariff announcement against China came earlier in the week when he asked the U.S. trade representative to identify $200 billion worth of Chinese imports for tariffs. His most recent target for the EU is autos, announcing the U.S. would impose tariffs on car imports if the EU didn’t remove duties on American cars.
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