Thursday, May 31, 2018

On Tariffs, Blame Congress Too

The tariffs just imposed by President Trump are, of course, terrible policy. Mr. Trump deserves the first line of blame for making decisions that no sensible economist would advocate.

But let's not let Congress off the hook. Over many years, Congress has passed the laws that give the President a lot of discretion over international trade policy. The assumption is that the President could be counted on to act responsibly. That assumption has now been proven wrong. Congressional leaders should think hard, in a bipartisan way, about how to revoke, or at least severely limit, those discretionary powers.

Update: Several senators are proposing a bill to rein in the President's power.

Friday, May 11, 2018

Open Letters from Economists