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Trump backs down on tariffs, but ‘the damage has been done and it’s very persistent’, expert says

January 21, 2026

Speaking with FRANCE 24’s Sharon Gaffney, Steven Durlauf, Director of the Stone Centre for Research on Wealth Inequality and Mobility at the University of Chicago’s Harris School of Public Policy, says that ‘the damage has been done and it’s very persistent’, following the announcement by US President Donald Trump that he was scrapping the planned tariffs on European nations over his Greenland takeover threat.

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Trump backs down on tariffs, but ‘the damage has been done and it’s very persistent’, expert says

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