Jason Furman, 55, is an economic policy professor at Harvard Kennedy School and a non-resident senior fellow at the Peterson Institute for International Economics, a transatlantic think tank based in Washington. He formerly served as the chairman of then-president Barack Obama’s Council of Economic Advisers from 2013 to 2017, and gave Le Monde a cool-headed analysis of Donald Trump’s first few months in office.
Trump has been in the White House for four months now. Has the worst of the trade war, economic uncertainties, and attacks on the independence of the United States’ central bank, the Fed, passed?
The only thing one can be sure of with Donald Trump is that things will change, and it’s never the end. It’s never over. So, I think there probably is a reprieve for the next couple of months, but two years from now when the United States is still running a trade deficit with Europe, do we come back to a huge number of new tariffs? I have no idea.
Do you feel that, within the Trump administration, one faction, between Treasury Secretary Scott Bessent, who seems to try to find compromises, the protectionist adviser Peter Navarro and the president himself, is prevailing?
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