Former U.S. Treasury Secretary: Trump's tariff policy goes against economic logic

ChainCatcher news, former U.S. Treasury Secretary Larry Summers stated in an interview that Trump's tariff policy goes against economic logic. This means higher prices for consumers and significantly higher input costs for American producers.

Summers questioned, "Why are we now deciding to wage economic war against Canada among so many countries in the world? Canada's minimum wage and basic wages are higher, and unions provide more protection for workers than in the U.S. I just don't understand the logic of these policies; there is no doubt that this is a regressive tax on American consumers."