Economist Sachs saw no harm to China and Russia from Trump's tariffs

America is isolating its economy from the products of other suppliers. But US protectionism is a serious mistake, a wrong political decision that will harm America in the first place, economist Jeffrey Sachs told Izvestia on the sidelines of the Open Dialogue "The Future of the World: a new platform for Global Growth", which is taking place in Russia from April 28 to 30.

Global response: a third of the global economy has imposed duties against the United States

The United States is opposed by China and the EU, but not everyone there is ready for confrontation.

"President Donald Trump believes that tariffs will help the U.S. economy. I don't agree with that — it's a serious mistake. At the same time, I do not think that it will greatly harm Russia, China and other countries. And I assume that the rest of the world can continue to develop and prosper, despite such a mistake by the United States," he stressed.

According to the expert, if the rest of the countries continue mutual trade in accordance with international law and the rules of the World Trade Organization (WTO), the impact on the global economy will not be strong.

At the same time, in the coming years, Russia will become one of the most developed countries in the world, the American economist is convinced.

"The technologies of the future — robotics, artificial intelligence and autonomous vehicles — will cover a vast territory of Russia. Autonomous vehicles, robotic mining, drones that automatically apply fertilizers to fields, and humanoid robots will all contribute to this," Sachs believes.