Judging Freedom Prof. Jeffery Sachs: The Disaster of Tariffs
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Apr 4, 2025 
Professor Jeffrey Sachs, a renowned economist from Columbia University and expert on international trade, dives deep into the perils of tariff policies. He critically assesses the president's emergency declaration and the dangers of unilateral economic decisions that bypass Congress. Sachs discusses the true causes of trade deficits, challenging misconceptions linked to foreign practices. He reveals how automation, rather than offshoring, is the main job killer in manufacturing. Finally, he highlights the adverse economic fallout of tariffs on consumers and international relations.
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Misuse of 'Emergency'
- President Trump's executive order on tariffs hinges on a supposed economic emergency.
- Professor Sachs argues this is a misnomer, as the situation described has persisted for decades.
Trade Deficit Misconception
- The executive order wrongly links trade deficits to other countries exploiting the U.S.
- Sachs explains that trade deficits simply mean a country spends more than it earns.
Blaming the Merchant
- Sachs compares the U.S. government's actions to blaming a merchant for one's own overspending.
- He highlights the absurdity of blaming other countries for a trade deficit caused by high U.S. spending.