THE DAILY BLAST with Greg Sargent Paul Krugman Brutally Wrecks Trump’s Europe Deal: “Scam on His Voters”
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Jul 30, 2025 
In this conversation with Paul Krugman, a Nobel laureate economist, listeners dive into the fallout of Trump's recent trade deal with the EU. Krugman dishes out skepticism, calling the concessions 'fake' and emphasizing that this is more a 'scam on his voters' than a real win. He critiques the media's portrayal of Trump’s victory, revealing substantial burdens on lower-income households due to new tariffs. The discussion unveils the contradictions in U.S. trade policies and highlights the negative implications for American consumers and manufacturing.
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Tariffs Hurt U.S. Consumers
- The 15% tariff on European imports is actually paid by U.S. consumers, not Europeans.
- This tariff acts like a sales tax on goods American consumers buy.
Trade Policy Deepens Inequality
- The tariff burden disproportionately falls on lower income Americans who spend more on affected goods.
- Tax cuts benefit the wealthy, making this an upward redistribution of income.
Tariffs Tilt Against U.S. Manufacturing
- The tariffs target many European manufactured and agricultural goods, including cars and machinery.
- U.S.-made cars face higher tariffs than European cars, disadvantaging American manufacturing.