Bill Dudley, Columnist

Trump’s Tariffs Are Even Worse Than I Imagined

No good will come of a US trade war with Canada and Mexico.

February 4, 2025 at 11:30 AM UTC

Bill Dudley is a Bloomberg Opinion columnist. A former president of the Federal Reserve Bank of New York, he is a member of Coinbase Global's advisory council.

Not kidding.
Photographer: Jim Watson/AFP/Getty Images

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I used to think I was a pessimist about how far President Donald Trump would go in imposing import tariffs on America’s trading partners.

It’s worse than I thought.