Maxwell School News and Commentary
Filtered by: Tariffs
Lovely Talks to Kotaku and Spectrum News About Trump’s Tariffs
“We’re going to see an impact on both import flows and export flows,” says Mary Lovely, professor emeritus of economics. “For consumers, we’re going to see higher prices. Many people are predicting about a one-percentage point increase on the inflation rate.”
See related: China, Federal, International Affairs, Tariffs, Trade, United States
McDowell Discusses Trump’s Plans to Maintain Dollar Dominance in BBC, Bloomberg, Wash Post Articles
“The idea that you’d use political coercion to bind countries, or bind market actors within countries, to use the currency is not how the dollar ascended to this place in the first place,” says Daniel McDowell, professor of political science. “If that’s what’s needed to maintain dollar dominance, that shows there’s a real fundamental problem with the economic appeal.”
See related: Federal, International Affairs, Tariffs, Trade, U.S. Foreign Policy, United States
Reeher Speaks With Fox News About Trump’s Proposed Tariffs for Mexico and Canada
“I think what he's putting out now, at this stage, could be seen as an attempt to nudge the behavior of both Mexico and Canada regarding the border and to engage in what is essentially financial saber rattling. But also, I wouldn't be surprised to see him follow through on this because he is a believer in tariffs,” says Grant Reeher, professor of political science.
See related: Canada, Federal, International Affairs, Latin America & the Caribbean, Tariffs, Trade, United States
Lovely Weighs In on How Trump's Proposed Tariffs Will Impact US Consumers in China Daily Article
The new duties also could mean “a household with median income is projected to pay $1,700 more each year in import taxes,” says Mary Lovely, professor emerita of economics.
See related: China, Federal, International Affairs, Tariffs, Trade, United States
Rising Import Tariffs, Falling Exports: When Modern Supply Chains Meet Old-Style Protectionism
Assistant Professor of Economics Ryan Monarch and co-authors examine the impacts of the 2018–2019 U.S. import tariff increases on U.S. exports through the lens of supply chain linkages. Published in American Economic Journal: Applied Economics.
See related: International Affairs, Tariffs, Trade, United States
Supply Chain Adjustments to Tariff Shocks: Firm Trade Linkages in the 2018-2019 US Trade War
Using confidential trade data, Ryan Monarch and co-authors show primary drivers of the decline in U.S. imports of tariffed goods were firm exits, discontinued buyer-supplier relationships, and reduced importing entry. Published in Economics Letters.
See related: International Affairs, Tariffs, Trade, United States
Patel and McDowell Discuss Trump’s Plan to Impose Tariffs on Countries That Start Wars in The Hill
“The cost to the private sector is quite high,” says Kristen Patel, professor of practice of policy studies. “Former President Trump has not coherently explained how tariffs would benefit us, companies and consumers.” Daniel McDowell, professor of political science, says, “The idea of using tariffs to deter countries from invading other countries, it’s pretty out there.”
See related: China, Government, International Affairs, Tariffs, Trade, U.S. Foreign Policy, U.S. National Security, United States
Monarch Discusses the Effects of Trump’s Presidential Economic Agenda in GOBankingRates Article
“These policies include mass deportation of undocumented immigrants and greatly reduced entry visas for working immigrants,” says Ryan Monarch, assistant professor of economics. “These policies would also lead to higher prices for everything from housing to groceries, as reduced labor supply in construction, agriculture and other sectors would lead to higher costs throughout the economy.“
See related: Economic Policy, Federal, Income, Labor, Tariffs, Trade, U.S. Immigration, United States
Lovely speaks to BNN Bloomberg, Politico about Trump's use of tariffs
"Short-term fixes like tariffs don’t work," says Professor Mary Lovely. She claims that the large U.S. trade deficit is fundamentally driven by larger economic factors—like the fact Americans spend more than they save and have to borrow from abroad to finance the difference.
See related: Economic Policy, Federal, Tariffs, Trade, United States
Lovely quoted in Reuters article on how Biden will handle tariffs
"It’s unclear how [President Biden] will balance these different competing forces," says Professor of Economics Mary Lovely, about the different parties with a vested interest in Trump's China tariffs, such as labor unions, farmers and climate activists.
See related: Economic Policy, Federal, Tariffs, Trade, United States