Former U.S. Treasury Secretary Summers: Tariff policy may trigger a severe financial crisis in the U.S.

[Former U.S. Treasury Secretary Summers: Tariff policy may trigger a serious financial crisis in the U.S.] Former U.S. Treasury Secretary Summers wrote on social media: “The developments of the past 24 hours suggest that we may be heading toward a severe financial crisis entirely triggered by U.S. government tariff policy. Given the government debt and deficit, as well as reliance on foreign buyers, this could trigger various vicious cycles. The only way to mitigate these risks is for President Trump to abandon the current course. This is the first round of financial turmoil triggered by the U.S. government.”