Jan Hagemejer on Donald Trump’s Tariffs for money.pl

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4 Apr 2025

Jan Hagemejer

Jan Hagemejer

Macroeconomics and Trade Director
Jan Hagemejer’s areas of expertise are international trade as well as macroeconomic and structural issues. He graduated from University of Warsaw where he also obtained his PhD and habilitation, as well as from Purdue University (MA in Economics). He works as an associate professor at the Faculty of Economic Sciences, University of Warsaw. Prior to … <a href="https://case-research.eu/media_post/jan-hagemejer-on-donald-trumps-tariffs-for-money-pl/">Continued</a>

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Donald Trump is introducing drastic tariff hikes, claiming that the U.S. has been “robbed” by other players in global trade. However, economist Jan Hagemejer argues that this policy is economically senseless because Trump:

Won’t reduce the trade deficit—studies show that tariffs weaken the currency, which hampers exports.
Won’t revive American industry—high production costs in the U.S. and a lack of sufficient labor make it difficult to bring factories back.
Hits American consumers and businesses—tariffs act like a tax, and rising raw material prices hurt industries that rely on them.

From my perspective, the trade policy of Donald Trump’s administration is simply foolish. But it’s hard for me to believe that the administration of the world’s most powerful country is full of fools who don’t see that. So this policy must serve some purpose, but it’s hard to say what.

Jan Hagemejer

President of CASE Management Board

For Poland, the effects will be limited—the direct impact on GDP is around 0.3–0.4%, as only 3% of our exports go to the U.S. However, the key issue will be how the trade war affects the EU economy, Poland’s main trading partner.

Conclusion: Trump’s policy seems more like a political maneuver than a rational economic strategy, and its main goal may be to satisfy voters in traditional industrial regions of the U.S.

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Jan Hagemejer on Donald Trump’s Tariffs for money.pl

Jan Hagemejer

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