#DigitalAssetBill Economist from the USA Jeffrey Sachs: Trump's approach to tariffs is a 'serious mistake'

Sachs explained that the Trump administration's emphasis on applying tariffs to competitor countries will not affect the growth of China and Russia if international trade continues to follow WTO rules.

Jeffrey Sachs calls tariffs a mistake, ignoring their impact on global trade

The tariff measures of the Trump administration and their subsequent impact on global trade continue to be studied by economists who are still analyzing these policies. Jeffrey Sachs, a well-known American economist and professor at Columbia University, recently criticized the idea of tariffs and the supposed benefits of their implementation.

At a speech during the dialogue 'The Future of the World: A New Platform for Global Growth' in Russia, Sachs criticized these measures, stating that instead of helping the USA, they will harm it.

Condemning these protectionist measures, Sachs stated:

President Donald Trump believes that tariffs will help the US economy. I disagree — this is a serious mistake.