Part 2/9:
Professor Sachs argues that President Trump’s tariff initiatives represent an unprecedented move toward protectionism rather than a mere negotiating strategy. Sachs criticizes these policies as fundamentally misguided, emphasizing that the U.S. trade deficits are not indicative of unfair global competition but rather a consequence of the country’s significant budget deficits. He posits that Trump's belief that trade surpluses signal cheating is a simplistic and flawed understanding of global economics.