Nobel Prize-winning economist Joseph Stiglitz responds to Donald Trump’s State of the Union address on Tuesday, when the president repeatedly touted his tariffs as saving the country money and boosting the economy. Stiglitz says Trump’s “lies” about tariffs can’t erase the truth about how they have raised costs for most U.S. residents. “It is estimated the average family is paying somewhere between $1,000 and $1,700 in extra money because of the tariffs,” says Stiglitz. “His policies have failed.”
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