Krugman speaks out again: tariffs cannot save American manufacturing, but instead become a deadly poison for the system.

As the focus on US tariff policy intensifies, Nobel laureate in economics, Paul Krugman, recently accepted an invitation to participate in a podcast with the Financial Times of the UK. He engaged in a dialogue with the Chief Economic Commentator of the Financial Times, Martin Wolf, to produce a special series of six episodes titled "Wolf-Krugman Dialogue", discussing the trust crisis and governance risks facing the United States under the Trump administration's policies. Specifically, they offered rare systematic criticism of the trade and tariff policies of the Trump administration. In the interview, Krugman said that the Trump administration is turning tariffs from an economic regulatory tool into a blatant "political threat tool," which not only undermines global trust in the US system but also erodes the governance foundations within the US domestic sphere.