In the April 11, 2025, episode of Bloomberg’s Wall Street Week, former U.S. Treasury Secretary Lawrence H. Summers offered a critical analysis of President Trump’s recent “Liberation Day” tariffs. Summers warned that these tariffs could lead to significant economic downturns, including a potential recession and substantial job losses. He likened the current tariff strategy to the 1930 Smoot- Hawley tariffs, which exacerbated the Great Depression, emphasizing that such policies are “self-inflicted wounds” to the U.S. economy

Summers also addressed the proposal of establishing a U.S. sovereign wealth fund, expressing skepticism about its feasibility and potential effectiveness. He questioned the practicality of such a fund, especially given the complexities of managing national investments and the risks of politicizing financial decisions.

Regarding the ongoing debate over TikTok, Summers highlighted the tension between national security concerns and economic interests. He pointed out that the administration’s push to ban or force the sale of TikTok could have broader implications for international business relations and the precedent it sets for government intervention in the private sector.

Overall, Summers’ commentary on Wall Street Week underscored the potential risks of current economic policies and the importance of carefully considering the long-term impacts of trade and investment decisions.

For a more detailed discussion, you can watch the full episode here: Larry Summers’ Tariff Analysis, US Sovereign Wealth Fund, TikTok | Wall Street Week.