Why Tariffs Won’t Bring Back Manufacturing Jobs, Krugman Explains

Sep 13, 2025 | Nobel laureate Paul Krugman argues that tariff “chaos” and Trump's immigration policies are the real drag on growth by raising costs, freezing investment, and ultimately hitting consumers. He says a 1950s-style manufacturing revival is illusory, tariff revenue won’t fix the deficit, and U.S. trade-rule credibility has suffered lasting damage. On New York City politics, he expects only marginal policy shifts if Democratic nominee for mayor Zohran Mamdani wins.