The editor-in-chief of The Economist: The U.S. tariff increase is purely self-inflicted pain
ChainCatcher news, recently, the editor-in-chief of The Economist, Zanny Beddoes, stated that the significant increase in tariffs by the United States is essentially "self-destructive." The U.S. government has changed, and the new administration is implementing a so-called revolutionary plan to reshape American foreign policy, fundamentally alter the U.S. economy, and attack independent agencies, law firms, universities, and the Federal Reserve Chairman. This has led to significant geopolitical shocks, but most importantly, this massive economic shock in the form of tariffs is also a tremendous self-inflicted wound.He believes it is undeniable that the current U.S. government has chosen an economic path of significantly raising tariffs, and almost all economists would say this is entirely self-defeating. No matter what is heard, this is a tax on consumers, which is likely to push the economy into recession. But more importantly, it is eroding investors' confidence in the dollar.
