Former US Treasury Secretary approves tariff policy: biggest self harm wound in history

According to a report by Golden Finance, on April 6th local time, it was learned that former US Treasury Secretary Lawrence Summers disagreed with the statement made by White House National Economic Council Director Hassett that "tariffs will lead to a decrease in US consumer prices". He believes that President Trump's tariff policy is the biggest self inflicted wound to the US economy in history. Summers said that tariffs will lead to price increases, exacerbate inflation rates, thereby reducing people's purchasing power, and also mean a reduction in employment opportunities. On April 2nd, US President Trump signed an executive order at the White House regarding the so-called "equivalent tariffs", announcing that the United States would impose a "minimum benchmark tariff" of 10% on trading partners and impose higher tariffs on certain trading partners. The US government's move has faced opposition and criticism from multiple parties worldwide. (CCTV News)