Renowned economist Jeffrey Sachs has a stark warning for the U.S.: protectionism isn't just risky—it's self-sabotage. 🔥 His comments follow President Donald Trump's new 10% tariff on Chinese goods, sparking fears of a global trade showdown. 💼✨
Why It Matters
Sachs, a Columbia University professor, argues that the U.S. has benefited hugely from China's economic growth, calling it a \"major beneficiary,\" not a victim. 🌍 He pointed to history, comparing today's tariffs to 1930s protectionist policies that deepened the Great Depression. 📜
Win-Win or Lose-Lose?
\"The relationship should be about mutual gains, not competition,\" Sachs said, urging nations to avoid repeating past mistakes. The U.S. and China have long been intertwined economically, with tech, manufacturing, and consumer markets driving growth on both sides. 🔄
What’s Next?
Analysts worry that tariffs could disrupt supply chains and inflate prices globally. Sachs emphasized collaboration over rivalry: \"The first loser would be the United States.\" 🚨 Will policymakers listen? 🤔
