Interior of the U.S. Supreme Court in Washington D.C.
Rutgers professors join Nobel laureates and other prominent economists to urge end of tariffs
Five Rutgers professors joined nine Nobel laureates and over 450 economists in sending a letter to the Supreme Court on Oct. 24 that argues against the Trump Administration’s Executive Order that tariffs must be used to prevent a “national emergency.”
The case starting Nov. 5 before the Supreme Court challenges whether the president has the authority to impose tariffs under the 1977 International Emergency Economic Powers Act.
In the letter from the National Taxpayers Union, “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.
They also added, “As economists, we know that broad-based tariffs impose net costs on the economy. They divert resources from their most efficient use, while making it more difficult and expensive for U.S. businesses to access inputs and capital goods, like steel and machinery for manufacturers and fertilizer and agricultural equipment for farmers."
The Rutgers professors who signed the letter include:
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