Lawrence Summers warns Trump's tariff policies could cause $30 trillion GDP loss

From Google: 2025-04-03 04:08:00

Former US Treasury Secretary Lawrence Summers has warned that Trump’s tariff policies could lead to a loss of $30 trillion in GDP. Summers stated that Trump’s tariffs on China and other countries could have a devastating impact on the global economy. He emphasized the need for a multilateral approach to trade and urged policymakers to work together to avoid a potential economic crisis. The warning comes as the US-China trade war continues to escalate, with both countries imposing tariffs on billions of dollars worth of goods. The potential economic ramifications of these tariffs are significant and could have long-term effects on the global economy.



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