Economists Warn Trump Of Depression From His Trade Policies

NTU’s Free Trade Initiative director Bryan Riley said, “very few policy areas generate as much consensus among professional economists like free trade does. Protectionism is flat-earther economics.” NTU is holding an event to unveil the letter and submit it to the White House and Congress on Thursday, May 3 at the National Press Club. This letter to Congress and the White House comes on May 3, the anniversary of the economists’ letter in 1930 warning against the Smoot-Hawley tariffs. The Smoot-Hawley tariffs were intended to protect American jobs, but the consensus among economists is that they prolonged and worsened the Great Depression. “Tariffs are never good, and a necessary evil to be used as sparingly as possible,” said founding signatory Douglas Holtz-Eakin, President of the American Action Forum and former director of the Congressional Budget Office.
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