In a defiant Truth Social post late Sunday, President Trump struck back at Nobel Prize–winning economist Paul Krugman, labeling him a “deranged bum” after Krugman sharply criticized the new wave of tariffs as “clearly illegal.” Trump defended his policy, pointing to soaring markets and insisting his approach has proven critics like Krugman consistently wrong.
Krugman, who recently departed The New York Times to publish independently via Substack, denounced the tariffs as a reversal of nearly a century of trade liberalization. He framed Trump’s actions as “class warfare,” warning they disproportionately benefit the wealthy at the expense of the middle and working classes.
The exchange marks another heated clash between Trump and Krugman, underscoring deep divisions over economic policy and ideology.