Dhaka, April 9 -- Nobel laureate economist Paul Krugman has cautioned against imposing high tariffs on clothing imports from Bangladesh, emphasising the negative impact on consumers and security.
In an interview with The New York Times, Krugman stated, "The idea of putting high tariffs on imports of clothing from Bangladesh is exactly what you shouldn't be doing. That's the kind of thing that is disruptive, raises the cost of living for American consumers, and does nothing to make us more secure."
He further explained that while there is a national security rationale for domestic production and proximity-based sourcing, tariffs on countries like Bangladesh and Vietnam would undermine such efforts. "If that's what we're wanting to do, then...