Larry Summers says Trump's 'masochistic' tariffs will cost $300,000 per family of four

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• Former Treasury Secretary Larry Summers has come out as one of the fiercest critics of President Trump’s “Liberation Day” tariffs. The economist said an hour of rhetoric has likely never caused so much economic damage, and that families would take a hit of $300,000 per year.

Former Treasury Secretary Larry Summers says President Trump’s tariffs would be a disaster for families and could cost them hundreds of thousands of dollars a year.