In this video, leading economists express concern after President Donald Trump announces new tariffs on U.S. trading partners. The economic repercussions could be massive, with potential losses estimated at up to $20 trillion. Economist Justin Wolfers criticizes the tariffs as destructive and uninformed, suggesting they are based on fabrications. He compares the move to the 1930 Smoot-Hawley Tariff Act which aimed to protect U.S. interests but ultimately exacerbated the Great Depression, emphasizing the detrimental impact on working Americans.