Summers warns: Trump's tariffs could drag the U.S. into recession, with unemployment potentially increasing by 2 million
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Former U.S. Treasury Secretary Summers warned that Trump's tariff policy could lead the U.S. into recession, predicting it will result in 2 million Americans losing their jobs. He pointed out that household incomes could lose $5,000 or more and stated that the current tariff increases could make more significant choices than during the Great Depression of the 1930s. He suggested abandoning the announced policies
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