Tuesday, April 8, 2025
Year : 2, Issue: 32
AFP: Nobel laureate economist Paul Krugman, in an interview with the New York Times, has warned against imposing high tariffs on clothing imports from Bangladesh.
“Putting high tariffs on imports of clothing from Bangladesh is exactly what you shouldn’t be doing. That’s the kind of thing that is disruptive, raises the cost of living for American consumers, does nothing to make us more secure,” the trade economist said.
There is a national security rationale for domestic production, but also for friendshoring and for nearshoring, because the stuff that’s close by is a lot easier to secure, he said.
“If that’s what we were wanting to do, then we would not be levying tariffs on Vietnam and Bangladesh, and we would certainly not be putting tariffs on Canada and Mexico,” he told Ezra Klein during the interview.
