In a recent public forum, renowned economist Jeffrey Sachs unleashed a fervent critique against President Donald Trump's tariff strategies, labeling the approach as not only misguided but delusional. Sachs remarks struck a chord as he emphasized that even a character as comically simple-minded as Mickey Mouse would understand the flaws in Trumps trade policies.

Sachs did not hold back his criticism, stating that Trumps grasp of trade economics is so fundamentally flawed that he would likely fail a basic economics class. He denounced the presidents obsession with trade deficits as childish and dangerous, warning that such thinking could lead the United States down a perilous path towards authoritarianism, characterized by a governance style marked by one-man rule by emergency decree.

In a forceful argument against Trumps narrative, Sachs attributed an astonishing $10 trillion loss in global wealth directly to the economic strategies implemented during Trumps presidency. He urged that the ongoing dialogue surrounding trade should not revolve around accusations of cheating from other nations but rather focus on excessive government spending within the U.S. itself.

Recalling Trumps justification for imposing tariffs on countries such as Lesotho, Sachs detailed how the president claimed, Lesotho sells us more than we buy from them, so theyre cheating us. He pointed out the absurdity of this reasoning, stating, That is literally what he said. Its completely delusional. Sachs further elaborated that Trumps administration hastily devised a flawed formula to impose tariffs based solely on trade imbalances, a notion he argued would not pass muster in a basic economics course. They made some absolutely stupid formula that you would not accept in a first-year, third-week economics class, Sachs declared, referring to the approach as one that originated from the U.S. Trade Representatives office under pressure.

As Sachs delved deeper into the ramifications of these tariffs, he characterized the resulting tariff list, which was calculated on a country-by-country basis, as entirely senseless. You cannot make this stuff up, he quipped. This used to be not a Mickey Mouse country, my country. But this is Mickey Mouse. And I apologize to Mickey Mousehe would not do this. Mickey Mouse is smarter than this. This blunt analogy underscored Sachs frustration with the administration's economic policy.

Having long been a critic of both major political parties regarding their failure to tackle economic inequality, Sachs took aim at Trump for offering a pseudo explanation and a pseudo remedy for the economic discontent felt by many Americans. He highlighted Trumps narrative that blames foreign countries for job losses, asserting that the decline of manufacturing jobs in the Midwest is attributed more to advancements in automation rather than outsourcing. Now if you go to an automotive plant, its all robots, Sachs pointed out. Thats not because the jobs went overseasits because the assembly line itself became an automated phenomenon.

In a broader context, Sachs expressed grave concern about Trumps retreat from international cooperation, particularly his decision to withdraw from the Paris Climate Agreement and bolster the coal industry. Yesterday, King Donald issued an executive decree to bring back coal. Its willful destruction of wellbeing. Willful, he stated, adding that the global community must strive to avoid entering what he termed crazy land.

Despite Trumps claims of leveraging tariffs as a powerful economic tool, the reality paints a different picture. Earlier this month, he proclaimed sweeping new tariffs on nearly all trading partners, only to reverse the majority of these decisions shortly thereafter due to market downturns. Were making a fortune with tariffs. $2 billion a day. Do you believe it? Trump said at a recent Republican event, showcasing his confidence in the tariff strategy.

However, the numbers tell a contrasting story. Recent reports from U.S. Customs and Border Protection indicate that the actual revenue generated from customs duties is just over $260 million daily, revealing that the economic gains from Trumps tariff policies are far less substantial than he suggests.