An overwhelming majority of economists believe tariffs implemented by President Trump as part of his trade wars will have a negative impact on the U.S. economy, according to a survey released by the National Association for Business Economics on Monday.
“Over 90 percent of the NABE Policy Survey panel considers current tariffs and threats of tariffs as having unfavorable consequential impacts on the U.S. economy,” said NABE Vice President Kevin Swift, CBE, chief economist, American Chemistry in a statement.
The survey also found that about 7 of 10 economists surveyed think that current fiscal policy was “too stimulative,” while 80 percent of respondents think Trump’s efforts to cool regulations would contribute to short-term economic growth.
Nearly half of the economists surveyed said that deregulation efforts would have negative long-term consequences. 60 percent of respondents said that economic policy should do more to address climate change.