Former U.S. Treasury Secretary says the argument that "increased tariffs benefit the U.S." is a fraud

ChainCatcher News, former U.S. Treasury Secretary Lawrence Summers stated on a television program: "The current tariff levels are more than ten times higher than when the U.S. initiated the trade war in 2018. I believe that any statements about 'increased tariffs having other (positive) effects' are fundamentally fraudulent, aside from making prices higher. The U.S. government's reckless tariff policies are very dangerous. This is the worst economic policy in the U.S. since World War II, the most severe act of self-harm."