Trump's Sweeping Tariffs Could Cost US $20 Trillion, Crash Markets Warn Economists: 'Monstrously Destructive'

About Trump's Sweeping Tariffs Could Cost US $20 Trillion, Crash Markets Warn Economists: 'Monstrously Destructive'

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.