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Fukuyama: Tariffs are idiotic, we will go into recession and risk another war

2025-04-04 22:30:47Kosova&Bota SHKRUAR NGA REDAKSIA VOX
Fukuyama: Tariffs are idiotic, we will go into recession and risk another war
Trump signing tariffs

Professor Francis Fukuyama says history has moved on, but now it is going in the wrong direction. The Stanford University professor, theorist of the famous book “The End of History” says that “Trump is repeating the policies that led us to war in the 1930s.”

The new tariffs signed by the head of the White House "are the most idiotic decision I have ever seen from an American president. They will be completely counterproductive and will probably plunge the world economy into a very severe recession, if not a depression."

"It's all based on Trump's inability to understand how the economy works. It's hard for me to understand how an American president could do something so ridiculous and harmful to his own society," he says in an interview with "La Repubblica".

Trump's complaints that other countries are robbing America, according to the professor, make no sense.

"America has progressed tremendously thanks to the global liberal trade order. Trump thinks running a deficit is a sign of exploitation, but any economist can explain to you that it is not. It is just the other side of the dollar coin, as the dollar's reserve currency decision is based on the dominance of the world's currency. Such incredible ignorance that it is difficult to understand how he became president."

Fukuyama: Tariffs are idiotic, we will go into recession and risk another war
Francis Fukuyama

Regarding the new administration's ideas about bringing back the manufacturing industry in the US, he says this will not work.

"The cost of bringing all these chains back to the US will be huge. American companies will not be able to afford to build completely new plants, because of the high cost of labor. And then who will invest all this money when you have an inconsistent president who changes his mind every two days? In 2-4 years the Democrats will come back. All this will turn around. I don't think that will happen," he says.

Regarding the similarity between Trump's policies and the tariffs of the 1930s, Fukuyama says that the tycoon " is aligning himself with autocrats because he wants to be one and is trying to move the American system in that direction. The only hope is that this stupid policy will backfire on him. Prices will rise and will likely throw the US and many other economies into a major recession. This will not please American voters, who dreamed of a golden age."

He then adds: " When people lose their jobs and the world falls into a depression that delegitimizes existing governments, this kind of instability creates conflict. Trump's policy will destroy the Atlantic Alliance and erase any kind of solidarity between democracies. Russia and China are happy to take advantage of this weakness," the renowned professor concludes.


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