https://en.sputniknews.africa/20250129/trump-wrong-to-think-us-market-allows-him-to-threaten-other-countries-economist-sachs-says-1070402306.html
Trump Wrong to Think US Market Allows Him to Threaten Other Countries, Economist Sachs Says
Trump Wrong to Think US Market Allows Him to Threaten Other Countries, Economist Sachs Says
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WASHINGTON (RIA Novosti) - In early December, Donald Trump threatened the BRICS countries with 100% tariffs if they created a new BRICS currency or supported... 29.01.2025, Sputnik Africa
2025-01-29T10:30+0100
2025-01-29T10:30+0100
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US President Donald Trump is wrong to think that the huge size of the American economy and tariff threats give him extra power in negotiations, renowned American economist and professor at Columbia University Jeffrey Sachs told RIA Novosti.Sachs noted that the power balance is "shifting markedly" and the world has become multipolar. On Sunday, Trump said he had ordered a 25% tariff on Colombian goods in response to the country's refusal to accept two military flights carrying migrants deported from the US. A few hours later, Colombia agreed to accept the flights, and the US called off the tariff plans.Trump has also recently warned that the US could impose a 25% tariff on Canadian and Mexican goods starting February 1 unless significant action is taken to curb illegal migration and the flow of synthetic opioids into the US.
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donald trump, jeffrey sachs, united states (us), colombia, latin america, north america, international, politics, policy, finance, migration, migrants, multipolarity, economy, foreign policy, market, brics, sanctions
Trump Wrong to Think US Market Allows Him to Threaten Other Countries, Economist Sachs Says
10:30 29.01.2025 (Updated: 11:18 29.01.2025) WASHINGTON (RIA Novosti) - In early December, Donald Trump threatened the BRICS countries with 100% tariffs if they created a new BRICS currency or supported any other currency.
US President Donald Trump is wrong to think that the huge size of the American economy and
tariff threats give him extra power in negotiations, renowned American economist and professor at Columbia University Jeffrey Sachs told RIA Novosti.
"Trump believes that the size of the US market gives him considerable leverage by threatening tariffs. I do not believe this to be true. Even if US trade were to disappear entirely, the rest of the world would do pretty well. The US, of course, would suffer enormously from the loss of trade," Sachs said when asked what he thinks of Trump’s tariff strategy when dealing with foreign policy.
Sachs noted that the power balance is "shifting markedly" and the world has become multipolar.
"The news of DeepSeek’s [a Chinese AI developer] achievements in recent days has been much more important for geopolitics than all of Trump’s bluster of recent days," Sachs added.
On Sunday, Trump said he had ordered a 25% tariff on Colombian goods in response to the country's refusal to accept two military flights carrying migrants deported from the US. A few hours later, Colombia agreed to accept the flights, and the US called off the tariff plans.
Trump has also recently warned that the US
could impose a 25% tariff on Canadian and Mexican goods starting February 1 unless significant action is taken to curb illegal migration and the flow of synthetic opioids into the US.
