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 are necessary to prevent a "national emergency."
- The case, starting November 5, challenges the president's authority to impose tariffs under the 1977 International Emergency Economic Powers Act.
- The signees, including the National Taxpayers Union, cite "centuries of economic theory and evidence" that suggest the trade deficit is not an extraordinary threat.
- They also state,
As economists, we know that broad-based tariffs impose net costs on the economy.
Author's summary: Economists unite against tariffs.
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