Boomerang Effect: US Tariffs May Backfire on American Consumers
US tariffs intended to protect domestic industries may backfire, leading to higher costs for businesses and consumers, escalating inflation, and potentially undermining economic growth.
Trade Policy
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Jeffrey Sachs: U.S. Protectionism Harms Itself and the World
Economist Jeffrey Sachs warns that U.S. protectionism harms both the U.S. and global economy, urging a return to open trade policies.
Economist Warns: Trump’s Tariffs Could Boost US Inflation
Economist Richard Wolff warns that President-elect Trump’s proposed tariffs on China could lead to higher inflation in the US, effectively taxing American consumers through increased prices.