Maxwell School News and Commentary
Filtered by: Taxation
Lovely Talks to NewsNation About Trump’s One-Month Tariff Exemption for US Automakers
“What we can say is that one month is not enough time to rearrange production networks which have served North America extremely well. We can't move assembly plants or manufacturing facilities for roof racks or catalytic converters or whole assembly plants from Mexico to the United States,” says Mary Lovely, professor emerita of economics.
See related: Canada, Federal, International Affairs, Latin America & the Caribbean, Taxation, Trade, United States
Monarch Explains Tariffs and Their Implications on the Economy With The Motley Fool and Develop This
“Tariffs cause the price of affected goods to rise. In fact, research into the 2018-2019 trade war has shown that the prices of U.S. imported goods affected by tariffs rose by nearly the entire amount of tariffs imposed, meaning that U.S. importers bore the brunt of the increase in costs,” says Ryan Monarch, assistant professor of economics.
See related: Federal, International Affairs, Taxation, Trade, United States
McCormick Discusses the Impact of Trump’s Tariffs on Mexico in Business Insider, NBC News Articles
“The consequences of pushing the Mexican economy into a forced and deep recession is that, if anything, it will actually make people have to resort to informal economic activity, which oftentimes is illicit,” says Gladys McCormick, Jay and Debe Moskowitz Endowed Chair in Mexico-U.S. Relations.
See related: Federal, International Affairs, Latin America & the Caribbean, Taxation, Trade, United States
Monarch Discusses Trump’s Proposed Changes to American Trade Policy in Directorship Magazine Article
“We know that President Trump is not afraid to have an actual trade war,” he continued. “We saw it in 2018 and 2019, where almost all goods coming from China were hit with the highest tariffs we've seen in almost 100 years. And those were very disruptive,” says Ryan Monarch, assistant professor of economics.
See related: Canada, China, Federal, International Affairs, Latin America & the Caribbean, Taxation, Trade, United States
Lovely Quoted in China Daily Article on the Impact of Trump’s Tariffs on US Small Businesses
For the U.S., tariffs “can cause job loss in sectors that use imported intermediate and capital goods,” says Mary Lovely, professor emerita of economics.
See related: China, Federal, International Affairs, Taxation, Trade, United States
Monarch Speaks With Newsweek About US tariffs and the Housing Market
Ryan Monarch, assistant professor of economics, says that it is “clear” tariffs on products like steel and aluminum will increase the cost of building housing and developments and, therefore, drive up the prices of housing in the U.S.
See related: Canada, Federal, Infrastructure, International Affairs, Latin America & the Caribbean, Taxation, Trade, United States
Lovely Discusses Trump’s Arbitrary Trade Policy in New York Times Article
“What Mr. Trump is doing with tariffs is a result of a lost consensus about how the United States should interact with other countries in the global economy. He is stepping into that vacuum, filling it with the unrestrained and autocratic use of import taxes, moves that appear to be based on personal whim rather than on U.S. trade law,” says Mary Lovely, professor emerita of economics.
See related: Congress, Federal, International Affairs, Taxation, Trade, United States
Cohen Discusses How the US Has Used Tariffs Throughout History in CNBC Article
Before 1934, Congress—not presidents—had power over tariff rates and negotiations, says Andrew Wender Cohen, professor of history. But Democrats had an enormous majority around the New Deal era and passed the Reciprocal Trade Agreements Act of 1934, granting the president the right to negotiate tariffs in certain cases, Cohen says.
See related: Federal, International Affairs, Taxation, Trade, United States
McCormick Talks to InSight Crime About Trump’s Tariffs on Mexico
“Tariffs will hurt the Mexican economy, which will further weaken the Mexican system and the rule of law, and that’s going to make Mexico much more vulnerable to further incursions from organized crime,” says Gladys McCormick, Jay and Debe Moskowitz Endowed Chair in Mexico-U.S. Relations.
Monarch Discusses Trump’s Tariffs on Canada, Mexico and China in Newsweek and WAER Articles
In total, a 25 to 30 percent price increase would not be “outlandlish,” says Ryan Monarch, assistant professor of economics. “We should expect that those prices are going to go directly onto American buyers. Research has shown that Chinese suppliers pass on those prices completely,“ he says.
See related: Canada, China, Federal, International Affairs, Latin America & the Caribbean, Taxation, Trade, United States