Journal of
Italian
Banking
Association

year 100
 

Archive » May 2025 » Tariffs and the economy

Tariffs and the economy

Pierluigi Ciocca
May 2025 - n. 5
Keywords: Dazi, economia americana
Jel codes: E44, H20

The Us economy appears structurally weakened, although this phenomenon is not frequently recognized. Less productivity-oriented, inflationary, unable to compete, with large deficits and debts to foreign countries, it has been overtaken by the Chinese economy and is also more unbalanced than the euro area. The list of difficulties of the US economy is long: the low level of national savings, the fall in productivity linked to innovation and technical progress, the decline in Gdp growth. Faced with a scenario that would require far-reaching institutional reforms and incisive economic policies, the Trump presidency has chosen to apply tariffs. A choice that amounts to a resounding admission of weakness, a desperate and above all ineffective and counterproductive move, for the United States and for the world.

Interested in this paper?
Buy the issue