How leading economists respond to Donald Trump's new 'Liberation Day' rates

April 3, 2025 04:32 PM IST French economist and former IMF chief economist Olivier Blanchard said that the total results of the rates “a recession would be no profit.” A general mess’ US President Donald has announced the ‘Liberation Day’ tariffs, which imposed a basic rate of 10% on US imports, with a significantly higher interest for certain countries – the reciprocal rates on India are 27%. This abundant move caused an extensive debate among economists who took to social media to share their analyzes and concerns. Here is a composite list of their insights. Behind a television monitor showing US President Donald Trump, the display board with the DAX curve declining share prices in Frankfurt (AP) Olivier Blanchard, a well -known French economist and former International Monetary Fund (IMF) economist, tweeted on X (formerly Twitter), which may indicate the rates, which can lead to a unintentional economic consequences. He said that the overall results of these rates would be “a recession, no profit.” A common mess. ‘Lawrence H. Summers, former US Treasury Secretary, who is currently the professor of Charles W. Eliot and President Emeritus at Harvard University, criticized Trump for the collapse of the stock market that caused his announcement. Meanwhile, the US economist and co-founder of the Center for Economic and Policy Research, placed on Bluesy, compared humorously to Trump’s tariff rationale with a doctor using a patient’s highlight-to-birth ratio for health advice. Trump’s calculation as the basis for rates would be comparable to a doctor developing an exercise and dietary regiment for their patients based on the ratio of their height to their birthday. -Dean Baker (@Deanbaker13.BSKY.Social) April 3, 2025 at 8:50 am Iván, an Argentine Economist and the Robert M. Solow professor of the US average of Economics at MIT, a Chart showed the US program, which showed the US average. Smoot-Hawley tariff law, which led to the reduction of US exports and imports by 67% during the Great Depression. “The only hope is that the announced rates are not fully implemented,” he said. Michael Pettis, a US Professor of Finance at Guanghua School of Management at Beijing University and a non-resident fellow at the Carnegie Endowment for International Peace, placed his analysis as a thread on X, which criticized the recent US rates to address systemic misconceptions. The “liberation day” rates have created a wide range of reactions of economists, reflecting deep concerns about possible disruption of global trade, increased consumer prices and economic instability. Since the international community has the impact of these greasy measures, this expert criticism highlights the need for careful evaluation and strategic dialogue to navigate the complex economic landscape ahead. Unlock a world of benefits with HT! From informative newsletters to real-time news warnings and a personal news feed-it’s all here, just a click away! -Login now! Unlock a world of benefits with HT! From informative newsletters to real-time news warnings and a personal news feed-it’s all here, just a click away! -Login now! See fewer