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2024-08-25 18:58:40
Economists overwhelmingly agree that tariffs raise prices and harm an economy. For example, 95 percent of American Economics Association members have repeatedly agreed that "tariffs and import quotas usually reduce general economic welfare." [Link]
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2024-10-11 13:51:17
In 1934, the average US tariff rate on dutiable imports was still more than 46%, and as Congress liberalized trade after the mid-1930s, US Real GDP per capita soared to levels far above what they were in the late 19th century [Link] [Link]
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