Odaily News Former U.S. Treasury Secretary Larry Summers said in an interview that Trump's tariff policy goes against economic logic. It means higher prices for consumers and much higher input costs for U.S. producers.

Summers questioned: "Why, of all the countries in the world, have we decided to wage economic war against Canada now? Canada has a higher minimum wage, a higher base wage, and unions offer more protection to workers than the United States. I just don't understand the logic of these policies. There is no doubt that this is a regressive tax on American consumers." (Jinshi)