More than 1,300 top U.S. economists, including Nobel Prize winners, university professors, and former government advisors, have come together to publicly condemn Donald Trump’s proposed tariff policies for 2025. In an open letter, they warn that these plans are an economic mistake with potentially severe consequences for both the U.S. and the global economy.

🔹 Anti-Tariff Declaration: A Strong Message from Academic Elites

The statement, titled “Anti-Tariff Declaration,” was initiated by economists Don Boudreaux and Phil Magness. It includes signatures from respected voices like Nobel laureates James Heckman and Vernon Smith, and former presidential advisor N. Gregory Mankiw.

The authors argue that Trump’s administration is preparing the largest trade tax increase in nearly a century. The result, they say, has already been supply chain disruption, market instability, and declining trust in global trade cooperation.

🔹 Economists Say Tariffs Lack Economic Justification

Trump, according to the letter, misrepresents tariffs as a step toward “economic freedom”, while in reality, they violate core economic principles. Tariffs do not boost prosperity, but instead hamper growth, reduce efficiency, and damage global trust.

🔹 Historical Warning: Smoot-Hawley Tariffs Revisited

The economists cite historical parallels, pointing to the 1930 Smoot-Hawley tariffs, which significantly worsened the Great Depression.

“In today’s globalized economy, the cost of political mistakes is even higher,” they warn. “The world is too interconnected for us to gamble with protectionism.”

🔹 Constitutional Concerns and the Role of Congress

The group also raises legal and constitutional concerns, arguing that trade policy is the domain of Congress, not the executive branch. Unilateral action on trade undermines democratic processes and legislative authority.

🔹 A Call to Return to Free Trade

The economists are calling for an immediate reversal of the tariff agenda and a return to open trade and voluntary exchange, which they believe have long ensured America’s economic success. Their plea is based on empirical evidence and founding ideals from Jefferson and Washington.

🔹 Trump Responds: “I’m Capitalism’s Best Friend”

Donald Trump has already responded to the backlash, dismissing the economists’ criticism.

On Truth Social, he wrote:

“Businesspeople who criticize tariffs are bad at business, and even worse at politics. I’m the greatest friend American capitalism has ever had.”

#TRUMP , #USPolitics , #TradeWars , #globaleconomy , #TradingCommunity


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