The Trump administration’s tariff policy is extractive—it reminds us of robber barons of the Gilded Age
The article criticizes the "optimum tariff" trade policy, championed by former Trump economist Stephen Miran, as a 21st-century "robber baron" tactic. This policy, designed to extract monopoly rents and shift economic burdens onto other nations, is deemed a "naked assertion of economic power." The author argues that while proponents claim US benefits, evidence suggests domestic consumers bear the cost. Moreover, such a strategy damages US credibility and inevitably invites retaliation from major trading partners like the EU and China. Ultimately, the optimum tariff is economically self-defeating, undermining long-term US interests and global leadership.
LiveMint · Dani Rodrik · Jul 9, 2026 at 8:30 AM