This week's IGM European Economic Experts Panel Statements:
A) Trade with China makes most Europeans better off because, among other advantages, they can buy goods that are made or assembled more cheaply in China.
B) Some Europeans who work in the production of competing goods, such as clothing and furniture, are made worse off by trade with China.
C) If the EU followed the new US steel tariffs by imposing similar EU tariffs on steel from China, it would improve Europeans’ welfare.
Keyword: protectionism
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This week's IGM Economic Experts Panel Statement:
Imposing new US tariffs on steel and aluminum will improve Americans’ welfare.
This week's IGM Economic Experts Panel statements:
A) If the US significantly lowers the number of H-1B visas now, expected US tax revenues will rise materially over the next four years.
B) If the US significantly lowers the number of H-1B visas now, employment for American workers will rise materially over the next four years.
This week's IGM Economic Experts Panel statements:
A) If all of the “Seven actions to protect American workers” in President-elect Trump’s 100-day plan (see link) are enacted, it will more likely than not improve the economic prospects of middle-class Americans over the next decade.
B) If all of the “Seven actions to protect American workers” in President-elect Trump’s 100-day plan are enacted, it will more likely than not improve the economic prospects of low-skilled Americans over the next decade.
This week's IGM Economic Experts Panel statement:
Adding new or higher import duties on products such as air conditioners, cars, and cookies — to encourage producers to make them in the US — would be a good idea.
This week's IGM Economic Experts Panel statement:
An important reason why many workers in Michigan and Ohio have lost jobs in recent years is because US presidential administrations over the past 30 years have not been tough enough in trade negotiations.
This week’s IGM Economic Experts Panel statement:
A typical country can increase its citizens’ welfare by enacting policies that would increase its trade surplus (or decrease its trade deficit).
This week’s IGM Economic Experts Panel statement:
Refusing to liberalize trade unless partner countries adopt new labor or environmental rules is a bad policy, because even if the new standards would reduce distortions on some dimensions, such a policy involves threatening to maintain large distortions in the form of restricted trade.
This week’s IGM Economic Experts Panel statements:
A: Ethanol content requirements and protectionism against imported ethanol (which includes fuel from sugarcane) raise food prices without significantly reducing carbon-dioxide emissions.
B: A direct disincentive to emit carbon-dioxide, for example through a carbon tax or an emissions permit market, is more efficient than requiring the use of corn-based ethanol fuels.
This week’s IGM Economic Experts Panel statement:
The current trade barriers in the U.S. sugar industry raise the profits of sugar producers and make the typical U.S. consumer pay more for sugar and goods that use sugar as an input.
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