US economist warns: High tariffs will harm US competitiveness

American economist: America's tariffs will lead to a decrease in the country's competitiveness

Famous American economist and Columbia University professor Jeffrey Sachs told the Satellite Communications Agency that the recent tariffs implemented by the United States will not reduce the country's trade deficit but will decrease its competitiveness.

Sachs said, "If the tariffs are intended to reduce America's trade deficit, they will fail. The trade deficit is the result of America's huge budget deficit, which will not change due to tariffs."

He added, "Tariffs will reduce America's competitiveness and the living standards of its citizens."

Previously, the White House announced that the United States would increase import tariffs on Chinese goods to 104%.

Original article: https://www.toutiao.com/article/1828887751528448/

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