• Previous Treasury Secretary Larry Summers went out as one of the most fierce critics of the “free day release of President Trump. The economist says an hour rhetorically likely to have significantly significant economic damage, and that families will hit $ 300,000 per year.

Former Treasury Secretary Larry Summers says President Trump’s tariffs can be a disaster for families and can cost hundreds of thousands of dollars a year.

Summers, which promotes the Treasury Department under former President Clinton, cruelly criticized the so-called “Call of Trump’s Liberty.

“Trump’s tariffs are the most expensive and masochistic that US follows in decades,” he WRITES.

In a later post, summer says the policy cost America’s families.

“Never had a time rhetoric rhetoric costs a lot of people. The markets keep moving in my earlier tweet. WRITES in a post of X.

Tacked in the summers of a interview OTHERS CNNsaying that it did not turn into a president’s action caused a large collapse of the stock market. Often, a stock trading of such gravity causes external reasons, such as Coronavirus pandemic in 2020, he added.

“This action has earned $ 3 trillion from the stock market as a result of a time rhetoric. So the market, greater than any president chased by any president at the end of the country,” he said.

On Friday, the stock market rout Continued as China Total 34% tariff Of American exports of revenge. All major indexes fall on Friday afternoon, with S & P 500 leading losses in a 4.5% drop. The tech-heavy Nasdaq and the bow Jones dropped 4.2% and 4.4%, actually.

Summeres often criticize President Trump to the items related to inflation and not focusing on helping the poor, he said to CNN The interview, however his most recent action of tariffs concerned him with many.

“Now my main concern is a lack of basic ability,” he said. “There is no uniform logic of these policies,” he added.

In fact, the white house Confirmed Tariffs are calculated using a simple simple formula, and the US trade representative’s office is written by Proxy the complex Tariff Considerations, Regulatory, and Tax Policy.

Summaries are not alone in his criticism. Economic experts and major bank analysts are in Incredible Agreement In fact if Trump continues the tariffs while they are presented Wednesday, economic disease and maybe a shrinkage can hit the US

However, Trump on Friday gives investors in a small sign of hope by saying he has a Vietnam leader call that wants to negotiate Eye-popping in this US

“Vietnam wants to cut their tariffs zero when they make a US agreement,” Trump WRITES To the truth of social friday.

This story originally shown Fortune.com

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