US Trade Barriers: Nobel economics prize recipient: Tariffs are 'foolish'
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US Nobel economics prize recipient Thomas Sargent disagrees with the tariffs.  
THOMAS SARGENT NOBEL ECONOMICS PRIZE RECIPIENT "That's foolish, that's totally foolish because the way trade works is its multilateral. It's 'we' trade. China doesn't just trade with the United States. It trades with many other countries. Countries have deficits and surpluses with all sorts of different countries. And the reason we have trade deficits is the responsibility of the United States. That doesn't have anything to do with tariff policy. I think it's bad for everybody's interests. I think it's bad. It helps a very small number of people in the United States at the expense of many more people in the United States and many people outside the United States. I just think it's not a good policy."

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