Over 970 leading economists, including Nobel laureates, have signed a scorching “anti-tariff declaration” calling out Trump-era trade policies they say risk sparking a “self-inflicted recession.” 🌐💥 The letter, gaining momentum over the weekend, warns that tariffs imposed on over 180 countries and regions are “misguided” and lack “economic reality.”
Why Are Economists Sounding the Alarm?
The declaration, signed by big names like James Heckman and Vernon Smith, argues that tariffs designed to reduce the U.S. trade deficit instead hurt American workers through higher prices and market chaos. After Trump announced tariffs in April 2025, stock markets tanked, and retaliatory measures from trading partners followed—leading experts to dub it “economic self-sabotage.”
A “Liberation Day” Backfire?
Though Trump delayed the steepest tariffs by 90 days, the economists warn the remaining 10% baseline rate still threatens global stability. “These policies are built on myth, not evidence,” the letter states, urging a return to “sound economic principles” before protectionism spirals further.
What’s Next?
With tensions rising and markets jittery, the big question is whether policymakers will listen—or double down on what critics call a “recipe for disaster.” 📉 Stay tuned as this trade war drama unfolds.
