Former U.S. Treasury Secretary Criticizes Current Tariff Levels

According to BlockBeats, former U.S. Treasury Secretary Lawrence Summers expressed concerns over the current tariff levels during a television appearance. Summers highlighted that the tariffs are now more than ten times higher than when the U.S. initiated a trade war in 2018. He argued that claims suggesting tariffs have positive effects are fundamentally misleading, stating that the policy of indiscriminately increasing tariffs is highly dangerous. Summers described this approach as the worst economic policy since World War II and a severe act of self-harm by the United States government.