Lawrence Summers: Trump’s Tariff Policy is ‘A Stop or I’ll Shoot Myself in the Foot Kind of Threat’

RUSH EXCERPT:

SUMMERS: "This is a stop or I‘ll shoot myself in the foot kind of threat policy. It defies economic logic. It means higher prices for consumers. It means much more expensive inputs for American producers. Think about the way car manufacturing happens in North America. The car in the process of being produced goes back and forth across the border five times. 10 times. Every time there‘s going to be some kind of tariff. What that‘s going to do is make the North American companies and the North American jobs less competitive relative to what‘s happening in Europe or China or Japan."