President Donald Trump reportedly sharply criticized liberal Nobel Prize–winning economist and former New York Times columnist Paul Krugman late Sunday, blasting him as a “deranged BUM” over repeated attacks on his administration’s tariff policy.
Krugman, who left The Times in December after more than two decades to launch his own Substack, has used the platform to maintain a steady drumbeat of hatred against Trump’s trade agenda.
Like many in the economic establishment, Krugman has warned that tariffs would ultimately raise costs for American consumers.
In his latest post, Krugman escalated his opposition, declaring that “most” of the tariffs were “clearly illegal” and accusing Trump of reversing “90 years of tariff reductions.” He dismissed the president’s trade agenda as a “false promise” that would not bring “a revival in manufacturing jobs.”
Trump’s response was immediate and cutting. Taking to Truth Social late Sunday night, the president accused Krugman of a long history of erroneous predictions and claimed the economist’s pessimism had caused some investors to miss out on historic gains.
“Paul Krugman of the New York Times has been predicting Doom and Gloom ever since my great election success in 2016,” Trump wrote. “In other words, he has been wrong for YEARS, as ALL markets have been hitting new HIGHS, and are now higher than ever before. People stayed out of the ‘BEST MARKET IN HISTOY’ [sic] because of this Trump Deranged BUM. Sue them!”
The president’s remarks also included a swipe at The New York Times, hinting at the possibility of legal action against the paper. “Sue them!” he wrote, in reference to the outlet that published Krugman’s work for decades.
The clash comes as Trump is doubling down on his trade policy, rolling out what he described as a long-planned “tariffs blitz” aimed at correcting decades of trade “abuse” by foreign governments.
The new import taxes, which range from 10 to 50 percent, target a broad array of goods from multiple countries.
The White House has framed the measures as not only economically sound but patriotic — a sharp departure from the free-trade orthodoxy that has dominated Washington policy circles for decades.
Trump and his allies argue the tariffs are necessary to protect American industries from unfair competition and to restore U.S. leverage on the global stage.
While critics like Krugman insist such measures hurt American consumers, Trump points to strong economic indicators as proof his approach is working.
The president highlighted that “ALL markets have been hitting new HIGHS” and emphasized that the economic picture under his administration stands in sharp contrast to Krugman’s years of grim forecasts.
The dispute unfolds against the backdrop of tense trade negotiations with China.
With an August 12 deadline looming, both sides face the prospect of additional tariffs — including threatened duties of up to 245 percent — if an agreement is not reached.
For Trump, the showdown with Krugman is as much about defending his economic record as it is about the trade fight itself.
The president has long relished sparring with media figures and establishment experts, particularly those who have underestimated him before.
In this case, he’s signaling he has no intention of backing down — on tariffs, or on the debate over whether his economic instincts are delivering results.
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