Former US Treasury Secretary: US economy may fall into recession, could lead to 2 million job losses

Lawrence Summers, an economics professor at Harvard University and former US Treasury Secretary, said in an interview with Bloomberg on the 8th that due to the tariff measures being implemented by the Trump government, the US may be heading for economic recession, which may lead to the loss of employment of about 2 million Americans, and each family will face an income loss of at least 5000 dollars. Summers said that Trump's tariff plan will face "very important choices" in the coming weeks. The scale of these tariff plans even exceeded the tariffs of 1930, which "exacerbated the Great Depression". Summers believes that the wise approach is to 'withdraw policies that have already been announced'. He also said that the economic recession challenge facing the United States this time was caused by the words and actions of President Trump and his administration. If the US government abandons its' policy mistakes', the economy will return to normal.