It is not every day a Nobel Prize winner is called a “deranged BUM.”
But that is just what President Donald Trump called Paul Krugman, a Nobel Prize-winning economist and former New York Times columnist, after Krugman criticized his tariff plan, per Mediaite.
In an article posted Sunday on Substack, Krugman said, “Most of Donald Trump’s tariffs are clearly illegal.”
“Trump has reversed 90 years of tariff reductions, achieved via reciprocal trade agreements — we’ll cut our tariffs if you cut yours,” Krugman continued.
“… Trump’s trade war should be seen as part of a package of policies that amounts to class warfare — class warfare against middle and lower-income Americans in favor of the affluent, especially the top 10 percent of the income distribution,” he added.
Trump wasted no time reacting to Krugman’s words.
“Paul Krugman of the New York Times has been predicting Doom and Gloom ever since my great election success in 2016,” Trump posted on social “. In other words, he has been wrong for YEARS, as ALL markets have been hitting new HIGHS, and are now higher than ever before. People stayed out of the “BEST MARKET IN HISTOY” [sic] because of this Trump Deranged BUM. Sue them!”
The president recently rolled out a tariff attack with new import taxes ranging from 10 to 50%.
China has until Aug. 12 to reach a deal with the U.S., which, if not reached, could mean tariffs as high as 245%.
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