Washington, D.C., USA: Gita Gopinath, a well-known economist of Indian descent, has expressed criticism of the tariffs implemented by former President Donald Trump. She stated that, to date, the US economy has not gained any significant advantages from these measures. Gopinath also highlighted that these tariffs have had adverse effects over the past six months.
Trump’s tariffs, some of the highest globally, have targeted countries like India and Brazil, with rates reaching 50%. In addition, certain branded medicines have faced duties of up to 100%. Various other sectors have also been affected by these levies, which remain in place. Responding to the six-month mark of the tariffs’ implementation, Harvard University economics professor Gita Gopinath shared her analysis of their global impact.
She described the tariffs’ outcome as a “negative scorecard” for the US economy. According to her assessment, rather than benefiting the nation, these trade restrictions have created economic challenges.
While the tariffs have contributed to higher government revenue, Gopinath noted that the cost has largely been transferred to American businesses and consumers. This has caused a slight rise in inflation, pushing up prices for everyday items such as furniture, groceries, and coffee—directly affecting middle-class households.
The manufacturing industry has not shown marked improvement under these tariffs, and there is no significant reduction in the trade deficit. Gopinath concluded that the objectives Trump hoped to achieve with these tariffs have not materialised.
Trump had maintained that the tariffs were designed to protect domestic industries, reduce foreign competition, and shrink the trade deficit. However, the former IMF official emphasised that these goals remain unmet.
Gita Gopinath, 53, is a distinguished economist of Indian origin. She pursued higher studies at Washington University and Princeton University before serving as a professor of economics at Harvard University. She became the Chief Economist at the IMF in 2019 and was appointed its first Deputy Managing Director in 2022. Gopinath is scheduled to step down from her IMF role in 2025 and will return to Harvard University as a faculty member.
