Former US Treasury Secretary approves tariff policy: the biggest self-harm wound in history
2025-04-06 22:25:48
On April 6 local time, it was learned that after Hassett, director of the White House National Economic Council, made the relevant remarks that "tariffs will lead to lower consumer prices in the United States" on the same day, former US Treasury Secretary Lawrence Summers said that he did not agree with Hassett's statement. He believes that US President Trump's tariff policy is the biggest self-inflicted wound on the US economy in history. Summers said that tariffs will lead to higher prices, increase inflation, reduce people's spending power, and also mean fewer job opportunities. US President Trump signed an executive order on so-called "reciprocal tariffs" at the White House on April 2, announcing that the United States will impose a 10% "minimum benchmark tariff" on trading partners and impose higher tariffs on certain trading partners. The move by the US government has been opposed and criticized by many parties around the world. (CCTV News)
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