Rutgers Professors Join Nobel Laureates in Opposing Tariffs
Five Rutgers professors, along with nine Nobel laureates and over 450 economists, have signed a letter opposing Trump's tariffs.
The letter, sent to the Supreme Court on October 24, argues against the Trump Administration's Executive Order that tariffs must be used to prevent a "national emergency."
The Biggest Trade Threat Is If Tariffs Are Left in Place
The signees ask the Supreme Court to consider "centuries of economic theory and evidence and the overwhelming consensus among economists" that suggest the trade deficit is not an extraordinary threat.
- Nine Nobel laureates have joined the opposition
- Over 450 economists have signed the letter
- The case challenges the president's authority to impose tariffs under the 1977 International Emergency Economic Powers Act
The economists argue that "broad-based tariffs impose net costs on the economy."
Author's summary: Economists unite against tariffs.