Top Wall Street economist sees 2 ways tariffs could play out—and neither is good for the average worker

Nathan Sheets, U.S. Treasury's the former undersecretary for international affairs, speaks at a Brookings event to preview the eighth China-U.S. Strategic and Economic Dialogue, in Washington D.C., the United States, May 24, 2016. (Credit: Xinhua/Yin Bogu/Getty Images)

Flying between Helsinki, Prague, Milan, and Geneva to meet with clients, Nathan Sheets, Citigroup’s top economist, has a bird’s-eye view of how tariffs are reshaping the global economy.

But on the ground, he warns, the consequences of President Donald Trump’s renewed tariff wars are showing up in ways that will hit regular Americans the hardest.