Trump's Tariffs Are Not 'Common Sense'—and They're Putting America's Credibility and 'Exorbitant Privilege' at Risk
Author: Steve H. Hanke and Matt Sekerke
Outlet: Fortune
Date: April 4, 2025
Hanke and co-author Matt Sekerke push back on the framing of Trump's tariffs as economic 'common sense,' arguing instead that the policy misunderstands basic trade economics and jeopardizes America's credibility on the world stage. They warn that persistent tariff escalation puts at risk the U.S. dollar's 'exorbitant privilege,' the unique advantages the U.S. enjoys as issuer of the world's reserve currency, by undermining the confidence that underpins global demand for dollars and dollar-denominated assets.
Full Citation:
"Trump's tariffs are not 'common sense'—and they're putting America's credibility and 'exorbitant privilege' at risk," Fortune, April 4, 2025. (with Matt Sekerke)