Larry Summers says Trump’s ‘masochistic’ tariffs will cost $300,000 per family of four

• Former Treasury Secretary Larry Summers He left as one of the richest criticizers of President Trump’s “Liberation Day” tariffs. The economist noted that one hour of rhetoric has probably never caused so much economic damage, and families will take $ 300,000 a year.

Former Treasury Secretary Larry Summers says President Trump tariffs will be catastrophic for families and can cost them hundreds of thousands of dollars a year.

Summers, which are brutally cruel to the so-called “Liberation Day” of Trump.

“Trump’s tariffs are the most expensive, and our backshake has been pursuing for decades.” He wroteA number

Later, summaries say that politics will cost American families priceless.

“Never hourly one hour of the presidential rhetoric was worth so many people so many people. Markets continue to move after my previous tweet. wrote In the post XA number

Summers have been developed interview with VaporAnd saying that it is unprecedented that the presidential action in the stock market collapses such a big collapse. Often, the decline in such a weight market is caused by external factors, such as 2020, the coronary alarm epidemic added.

“This operation has taken $ 3 trillion from the stock market as a result of an hour of rhetoric. Stock Exchange reflects only part of the economy.

Friday, Sending a stock market continued as China 34% charges charged about American exports of vengeance. Friday afternoon All the main indicators were with the S & P 500, the lesser in the decline of 4.5%. Technological hard Nsdak and Defame Jones decreased by 4.2% and 4.4%, respectively.

Summer often criticizes the President on the issues related to inflation and not focus on helping the poor, he said Vapor Interview, his most recent action on tariffs worries him the most.

“My main concern is the lack of basic jurisdiction right now,” he said. “There is no logic in line with this policy,” he added.

Really, the White House has been approved Tariffs were calculated through a relatively simple resolution, and the office of the US Trade Representative was fired. Proxies to the complex considerations of tariff, regulatory and tax policyA number

Summers are not alone in his criticism. Economic experts and large analysts of the bank are immigrated Rare Agreement On the fact that if Trump keeps tariffs because they were submitted on Wednesday, economic pain and probably the fall can hit the United States

On Friday, Trump has given investors a small number of hope, saying that he calls on the Vietnam leader Lam, who wants to negotiate the 46% tariff exchange rate on it.

“Vietnam wants to reduce their tariffs until zero, if they are able to reach an agreement with the United States,” he said, ” wrote about the truth on social friday.

This story was originally shown Fortune.com