American economist Jeffrey Sachs is sounding the alarm over President Donald Trump's recent decision to impose a 10% tariff on goods imported from the Chinese mainland. 📊 Sachs warns that protectionist measures are a double-edged sword, referencing the global economic downturn of the 1930s as a cautionary tale.
\"Protectionist economies do not thrive… the first loser would be the United States,\" Sachs emphasizes, highlighting that the U.S. has been a major beneficiary of China's economic rise. 🌏 He advocates for a win-win relationship between the two nations, urging against the competitive stance that could undermine mutual growth.
The executive order has sparked significant criticism and concern among economists and businesses alike, who fear it could disrupt the delicate balance of international trade and economic cooperation. 📉 As the global market remains interconnected, experts like Sachs believe that collaboration, rather than protectionism, is the key to sustained prosperity.
