Former U.S. Treasury Secretary: The U.S. economy may fall into recession, which may cause 2 million people to lose their jobs

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PANews
04-08
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PANews reported on April 9 that Lawrence Summers, a Harvard University economics professor and former U.S. Treasury Secretary, said in an interview with Bloomberg that due to the tariff measures implemented by the Trump administration, the United States may currently be heading towards an economic recession, potentially causing around 2 million Americans to lose their jobs, with each family facing at least $5,000 in income losses. Summers stated that Trump's tariff plans will face a "very important choice" in the coming weeks. The scale of these tariff plans even exceeds those of 1930, which "exacerbated the Great Depression". Summers believes the wise approach would be to "withdraw the already announced policies". He also said that the economic recession challenge facing the United States this time was caused by President Trump and his administration's words and actions. If the U.S. government abandons its "policy mistakes", the economy will return to normal.

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