Former U.S. Treasury Secretary: the Trade War must stop or it will perish

SMM12, May 5: former US Treasury Secretary Larry Summers said a few days ago that US President Donald Trump's relationship with tariffs is heating up. He was not at all surprised at this.

Unlike decades of efforts by the US president to lower trade barriers, Mr Trump is waging a global trade war that has spread to Argentina, Brazil and France this week. Trump's series of tariff policies are designed to protect American workers, but Summers believes it will hit the U. S. economy hard.

"the trade war must stop, or we will perish ourselves," Summers said in an interview with CNN Business. " "it's hard to know exactly how big the impact is, but it's definitely disadvantageous," he added. " He believes that this uncertainty could paralyze economic activity.

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