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Niall Ferguson: Trump’s Tariffs and the End of American Empire
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Niall Ferguson: Trump’s Tariffs and the End of American Empire
Illustration by The Free Press
The president stands as much chance of reindustrializing the U.S. as you do of getting your frozen laptop to work by smashing the motherboard with a Minecraft hammer.
By Niall Ferguson
04.06.25 — U.S. Politics
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Niall Ferguson: Trump’s Tariffs and the End of American Empire
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In A Minecraft Movie, five characters, including a fat American played by Jack Black, stumble through a disused mine in Idaho into a fantastical land where mining, construction, and manufacturing are fabulously easy. Simple, docile villagers subsist on vegetables, and there’s a bit of a nocturnal crime problem. But you can throw together a castle for yourself—not to mention giant steel nunchucks—in seconds. It is awesome. (I owe these insights entirely to my 7-year-old son Campbell.)

The only problem is that underneath this idyllic Overworld is the Nether—a hideous, totalitarian regime where mining is obviously a lot less fun. Unfortunately, there is no tariff barrier keeping the denizens of the Nether from invading the Overworld and attempting to plunge it into eternal darkness.

You may think it is a stretch to say that this is a near-perfect allegory for the second Trump administration. But bear with me. Because what you think is happening is not what is happening.

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Niall Ferguson
Sir Niall Ferguson, MA, DPhil, FRSE, is the Milbank Family Senior Fellow at the Hoover Institution, Stanford University, and a senior faculty fellow of The Belfer Center for Science and International Affairs at Harvard. He is the author of 16 books, including The Pity of War, The House of Rothschild, and Kissinger, 1923-1968: The Idealist, which won the Council on Foreign Relations Arthur Ross Book Award. He is a columnist with The Free Press. In addition, he is the founder and managing director of Greenmantle, a New York-based advisory firm, a co-founder of the Latin American fintech company Ualá, and a co-founding trustee of the new University of Austin.
Tags:
Tariffs
Trade
Donald Trump
Economics
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