Former President Donald Trump’s latest campaign promise has sparked alarm among critics who argue that his proposed tariffs would push the U.S. economy back to the “dark ages.” During a rally in Pennsylvania on Wednesday, Trump vowed to implement tariffs that he claimed would revive the prosperity seen at the turn of the 20th Century.
“That was when our country was the richest it ever was,” Trump declared. “It was never rich like that…we had so much money we didn’t know what to do with it.” He went on to promise “pretty stiff tariffs” that he claimed would inject hundreds of billions of dollars into the economy.
Trump’s comments drew a direct comparison to the Gilded Age, a period when wealthy business leaders, often dubbed “robber barons,” monopolized industries and amassed enormous fortunes. While some see this era as a golden age of capitalism, critics view it as a time when powerful figures exploited workers and engaged in unethical practices. Stephen Schneider, a criminology professor at Saint Mary’s University and author for Britannica, noted that these industrial leaders were “pioneers of organized crime.”
The speech reignited a long-standing debate. “I’ve been telling you this—Trump thought our nation was ‘great’ during the Gilded Age, the Robber Baron years—that’s what he wants to bring back,” wrote rhetorician Jennifer Mercieca on X (formerly Twitter). She added, “Massive wage slavery, factory towns, filthy water & air, no regulations on food or business. His policies only help the ultra-rich.”
Others joined the chorus of criticism. Former tennis champion Andy Roddick commented, “Tariffs are a tax on all of us.” Political commentator Brian Tyler Cohen echoed this sentiment, stating, “Tariffs are a tax on Americans. Everyone in the country would pay more, all because this imbecile doesn’t know basic economics.”
However, some, like law professor Zephyr Teachout, offered a more nuanced take. While she condemned Trump’s rhetoric, she also warned against dismissing tariffs outright. “Just because Trump is full of tariff nonsense doesn’t mean he should make everyone else nonsensical,” Teachout wrote. “Tariffs can be good! Biden’s new tariffs were much more strategic than Trump’s. They can also be bad! But the more Trump traps Dems into saying tariffs are bad, he wins.”
A recent study by the Peterson Institute for International Economics projects that Trump’s proposed tariffs would harm the U.S. economy, leading to increased inflation and reduced employment for decades. As the debate over tariffs heats up, Trump’s comments have once again polarized opinions, highlighting the contentious nature of his economic policies.