This US survey examines: (a) Giving the President more direct influence over monetary policy would lead to substantially worse monetary policy decisions; (b) Imposing tariffs results in a substantial portion of the tariffs being borne by consumers of the country that enacts the tariffs, through price increases; (c) There is little empirical evidence that price gouging is causing high grocery prices; (d) Widespread use of price controls creates substantial economic distortions
Keyword: trade war
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This week’s IGM Economic Experts Panel statement:
Because global supply chains are more important now, import tariffs are likely substantially more costly than they would have been 25 years ago.
This week's IGM European Economic Experts Panel Statements:
A) Trade with China makes most Europeans better off because, among other advantages, they can buy goods that are made or assembled more cheaply in China.
B) Some Europeans who work in the production of competing goods, such as clothing and furniture, are made worse off by trade with China.
C) If the EU followed the new US steel tariffs by imposing similar EU tariffs on steel from China, it would improve Europeans’ welfare.
This week's IGM Economic Experts Panel Statement:
Imposing new US tariffs on steel and aluminum will improve Americans’ welfare.
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