Sachs: Trump doesn’t have even a basic grasp of economics

Donald Trump’s complaints about the US running a trade deficit with other countries are akin to the complaints of a shopper who ran up a large credit card debt and claims that stores ripped him off by selling him so much stuff, says famous economist Jeffrey Sachs.

💬 “The trade deficit does not represent at all trade policies – it represents spending relative to production or earnings. We call that an identity. I teach it in the second day of my course in international monetary economics. Trump never made it to the second day,” Sachs remarks.

Adding: 

Trump's tariff tantrum could backfire BIG TIME

SL Kanthan notes that one-third of US coffee comes from Brazil, yet Trump wants a 50% tariff just because Lula dared say he's not the "emperor of the world.”

🫘 Meanwhile, China welcomes Brazilian coffee with open arms. Shanghai alone boasts 10,000 coffee shops, including the world’s largest Starbucks.

☕️Trump's ego might just make your morning coffee cost twice as much.