STOCKHOLM (AP) – Nobel economics prize laureate Oliver Hart says he’s not impressed by President-elect Donald Trump’s plans for the U.S. economy.
Hart, a Harvard professor, told reporters in Stockholm on Wednesday that he doesn’t yet see “a coherent set of policies” from Trump, but said he’s worried about Trump’s campaign promises of “tearing up trade agreements, imposing tariffs. I don’t think that’s the way forward for the U.S or the world.”
During the campaign, Trump pledged to renegotiate or withdraw from the North American Free Trade Agreement and to slap tariffs on countries that the U.S. judges to be trading unfairly.
Hart added he’s “sympathetic” to Trump’s plan for higher infrastructure spending but “when you look at the details of what he had in mind, those are not so impressive.”
Hart shares this year’s 8 million-kronor ($930,000) economics award with Bengt Holmstrom of the Massachusetts Institute of Technology for their contributions to contract theory.