How China tariffs could backfire on U.S.
Harvard Gazette — President-elect Donald Trump’s longstanding plans to hit China with stiff tariffs would likely deal a blow to China’s already faltering economy, but it could also trigger some unintended negative consequences for the U.S. economy and foreign relations, economists say.
Trump warned last week that on his first day back in office he will impose 25 percent tariffs on goods from Mexico and Canada and an additional levy of 10 percent on Chinese imports. (He said during the campaign he would hit China with tariffs of 60 percent or more.) He said the nation’s largest trading partners need to take swifter, harsher action to halt the flow of illegal migrants and drugs into the U.S. READ MORE
Fareed Zakaria GPS with Larry Summers
Interview with Fareed Zakaria on CNN’s GPS where we discussed how the Trump program, if literally implemented, would be a far larger stimulus to inflation than anything President Biden enacted.
Economic Policy Before and After the 2024 Election
My conversation on economic policy before and after the election with John Ellis at the Harvard Institute of Politics.
Trump’s Treasury Challenge: A Pick Who Loves Tariffs Yet Calms Markets
New York Times — “I think Trump has a problem in that he wants two different things,” said Lawrence H. Summers, who served as Treasury secretary in the Clinton administration. “He wants somebody who will be deeply loyal, and he wants someone who will be deeply reassuring to markets. Since markets are fearful of the tariff agenda, it’s hard to square both things.” READ MORE
Larry Summers discusses where we are, what we lack and where we’re going.
The title of Thursday’s “Forum” at the Institute of Politics at the John F. Kennedy School of Government at Harvard was “Economic Policy Before and After the 2024 Election.”
We (meaning he) talked about that at some length. But he also talked about the gathering storm in Europe, the spirit of public service, the crisis of the academy, the 350-foot bridge that took five years to fix, and the perils and promise of artificial intelligence (Prof. Summers is on the board of OpenAI).
I’ve always thought the best podcast or YouTube video interview was one that featured a very smart person talking about very interesting subjects. By that standard, this is a great podcast/YouTube video.
Economic Policy Before and After the 2024 Election
A conversation on a range of economic policy issues and the implications of the recent election with Lawrence Summers, the Charles W. Eliot University Professor and President Emeritus at Harvard University; Weil Director, Harvard Kennedy School’s Mossavar-Rahmani Center for Business and Government.
Larry Summers sounds the alarm bell on inflation — before Trump even takes office
New York CNN — When many were celebrating the remarkable economic recovery from the pandemic in the spring of 2021, Larry Summers warned the White House and the rest of Washington that inflation was a real danger.
That warning proved to be prescient. Price spikes engulfed the US economy, crushed consumers and forced the Federal Reserve to spike interest rates to multi-decade highs. Inflation became issue No. 1 for voters and helped send Donald Trump back to the White House.
Now, with many celebrating the apparent defeat of inflation, Summers is delivering another warning to Washington. READ MORE
