‘Addictive’ tariffs are here to stay, warns Wharton professor, even if Democrats win the next election

Quick Summary:

"Democrats will be addicted to [tariffs] as Republicans—or are as likely to be," Professor Joao Gomes said.

While analysts generally expect effective tariff rates to continue to come down—signaled by pauses and deals with the U.K.(and, in the early stages, China)—one economist warns these heightened rates are here to stay.

"There'll be some nice trade deals, possible with some of the countries that are really desperate to do business with us—I think India is a really important case in point there—so I am generally optimistic that the worst is over".

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Article Details

Author / Journalist: Eleanor Pringle

Category: EconomyBusiness

Markets: United StatesChinaIndia

Topics: Tariffs Donald Trump Tariffs and trade Inflation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-19 @ 15:10:05 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 637 words

Reading Time: 4 minutes read

Sentences: 5 lines

Sentence Length: 128 words per sentence (average)

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Copyright Owner: © Fortune

News ID: 28842308

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