Former U.S. Treasury Secretary: Tariff policies may trigger a vicious cycle, and Trump needs to abandon the current path to reduce risks

Odaily News Former U.S. Treasury Secretary Summers wrote on X: "Developments over the past 24 hours suggest that we may be heading towards a severe financial crisis caused entirely by the U.S. government's tariff policy. Given the government's debt and deficit and its reliance on foreign buyers, this could set off all sorts of vicious cycles. The only way to mitigate these risks is for President Trump to abandon his current path. This is the first round of financial turmoil caused by the U.S. government."