Famous economist Jeffrey Sachs launched a scary attack on Donald Trump’s tariff strategy, “confusion” the US President’s trade policies “confuses” that Mickey Mouse would also know better.
Not looking at any word, Sachs strongly criticized Donald Trump’s business policies, announcing that Trump’s understanding of business is so fundamentally flawed that “he will not pass a basic economics class.”
He condemned the determination of the President on the trade deficit both as “childish and dangerous”.
Sachs attributed the loss of $ 10 trillion into global funds for Trump’s economic strategies and warn that the United States is moving towards powerism, characterized by “one-individual rule by emergency decree”.
Rejecting Trump’s allegations that other countries are “cheating” to the US, Sachs argued that the real issue is not business, but the US government expenses.
Speaking on a public platform, Sachs recalled Trump’s justification for implementing tariffs on countries such as Lesotho. “What Trump said,” Lesotho sells us more than buying them, so they are cheating us. ” He literally said, “Sachs explained.” This is completely confusion. “
According to Sachs, Trump’s team then scrambled to create a formula to put tariffs on countries such as purely based Lesotho on trade imbalance. He said, “He created some absolutely stupid formulas, which you will not accept in the first-year, third week economics class. It came out of the office of the US business representative. He was probably told,” Do it overnight, boss, boss, “he said.
Sachs described the result as a list of tariffs calculated based on country-by-country, an approach that he considered completely insensitive. “You can’t make this stuff,” he said. “It was not Mickey Mouse country, my country. But it is Mickey Mouse. And I apologize to Mickey Mouse – he will not do so. Mickey Mouse is smarter than this. ,
Sachs, a long -time critic of failure to deal with the inequality of both political parties, accused Trump of selling “a pseudo -clarification” and “a pseudo -remedy” for economic dissatisfaction. “What Trump is doing is giving a story to states like Michigan and Ohio to swing – this is China’s fault, this is Mexico’s fault, this is Lesotho’s fault.”
He also stated that the loss of manufacturing jobs in the US midwests was more operated by automation than business. “Now if you go to a motor vehicle plant, these are all robots,” Sachs said. “This is not because the jobs have gone abroad – this is because the assembly line itself became an automatic event.”
On extensive global challenges, Sachs expressed an alarm over Trump’s decision to get out of the Paris Climate Agreement and promote coal. He said, “Yesterday, King Donald released an executive decree to bring back the coal. It is the will of goodness. Wilful,” he said, the rest of the world is called “Crazy Land”.
The President has claimed that tariffs are a powerful tool for economic lens. Earlier this month, he announced a new tariff on almost all trading partners, only one week later to reverse most of them after a market recession. “We are making a fortune with tariffs. $ 2 billion a day. Do you consider it?” Trump recently said at a Republican event.
However, official figures tell a different story. According to the US customs and border security, the actual figure collected from the customs is more than $ 260 million per day. Despite Trump’s claims, the real economic benefit of their tariff policies is much less important than explaining this.
