Nearly 1,000 world economists sign statement opposing US tariff policy

View of Long Beach cargo port in California (USA). (Photo: THX/TTXVN)

The letter, titled Trade and Tariffs: A Statement of Principles for American Prosperity, was signed by prominent economists including Nobel Prize winners James Heckman and Vernon Smith, the news agency reported.

The letter was circulated over the weekend and as of the morning of April 20, 976 individuals had signed it.

In the letter, the authors criticize Mr. Trump's "reciprocal" tariffs that are affecting more than 180 countries and territories around the world.

The letter said these “reciprocal” tariffs were “calculated based on a flawed and arbitrary formula that has no basis in economic reality.”

The authors of the letter also urged an end to Mr. Trump’s “disjointed and destructive” trade policies, stressing: “However, we remain hopeful that sound economic principles, empirical evidence, and the warnings of history will prevail over the current protectionist myths.”

According to VNA

Source: https://baothanhhoa.vn/gan-1-000-nha-kinh-te-the-gioi-ky-tuyen-bo-phan-doi-chinh-sach-thue-quan-cua-my-246290.htm