"Protectionist economies do not thrive... the first loser would be the United States," warns renowned American economist Jeffrey Sachs. On Saturday, U.S. President Donald Trump signed an executive order imposing a 10 percent tariff on goods imported from China, sparking criticism and concern. Sachs refers to the disastrous global effects of protectionism in the 1930s and urges nations not to blindly repeat the U.S.' mistake. He said the U.S. economy has been "a major beneficiary of China's economic rise, not a loser" and that the relationship between the two nations should remain win-win, not competitive.