Larry Summers Thinks Trump’s Tariffs Are a Disaster

 https://www.thefp.com/p/larry-summers-thinks-trumps-tariffs

The former Treasury secretary says: ‘I have never seen as irrational a consequential policy put in place by an American administration.’

U.S. stocks tumbled Tuesday, wiping out all of the markets’ gains since Trump’s return to power. The tariffs come at a moment of growing economic unease. U.S. consumer confidence dropped more quickly last month than at any point in the last four years. And while it’s true that Trump’s protectionist instincts are well-known—tariff, he said last year, is “the most beautiful word in the dictionary”—these new measures are more extreme than any he has imposed before.