Stephen Miran: The Harvard-Trained Economist Behind Trump’s Tariff Strategy

<p>Since January, US President Donald Trump has unveiled a series of tariffs that sent ripples across global economies. These moves were not just impulsive displays of economic nationalism or political gamble &mdash; they were part of a calculated strategy shaped by a close group of advisers.</p>
<p>Among them was Stephen Miran, Trump&rsquo;s key economic adviser, a Harvard-trained economist and staunch advocate of using tariffs as strategic tools to renegotiate and reshape the global trading system in favour of American interests.</p>
<p>On December 22, 2024, Stephen Miran was appointed by Donald Trump to lead the influential Council of Economic Advisers (CEA). He swiftly became one of the most outspoken proponents of the president&rsquo;s aggressive, tariff-driven trade strategy, standing firm in his support even as global markets reacted sharply to the administration&rsquo;s sweeping economic measures.</p>
<p>According to The Hindustan Times report, Miran said that &ldquo;the President has promised to rebuild a broken industrial base and pursue trade terms that put American workers and businesses first&hellip;&rdquo;</p>
<p>&ldquo;Our military and financial dominance cannot be taken for granted, and the Trump Administration is determined to preserve them,&rdquo; Miran added.</p>
<p>On April 7, Trump announced that the tariff on China had risen to 104 percent. It has since been further raised to 125 percent.</p>
<h3><strong>Miran&rsquo;s Time In Harvard</strong></h3>
<p>As per the report, Miran earned his undergraduate degree from Boston University in 2005, majoring in economics, philosophy, and mathematics. He later pursued a PhD in economics at Harvard University, completing it in 2010.</p>
<p>While at Harvard, Miran was mentored by renowned economist Martin Feldstein, who notably served as the chairman of the Council of Economic Advisers during President Ronald Reagan&rsquo;s administration in the early 1980s.</p>
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<p>Miran was a senior strategist at Hudson Bay Capital, a global investment firm, before joining the Trump administration.</p>
<h3><strong>Defending Tariffs</strong></h3>
<p>In a statement at the Hudson Institute, Miran said that the tariffs require extra attention. He said that while several economists and investors dismiss tariffs as &ldquo;counterproductive at best and devastatingly harmful at worst. They&rsquo;re wrong&rdquo;.</p>
<p>Speaking at the Hudson Institute, Miran stressed that the President’s reciprocal tariffs are aimed at countering &ldquo;unfair trade practices,&rdquo; such as currency manipulation and dumping, rather than simply raising revenue. He also noted that the revenue generated from these tariffs could be used to reduce taxes and boost the competitiveness of the US economy.</p>
<p>He said that tariffs are not levied to collect revenue but are designed to address tariffs and non-tariff barriers &ldquo;and other forms of cheating like currency manipulation, dumping, and subsidies to gain unfair advantage&rdquo;, as per the HT report.</p>
<p>&ldquo;Revenue is a nice side effect, and if it is used in part for lowering taxes, it can help turbo-charge competitiveness improvements that boost US exports,&rdquo; he added.</p>