Economics
Economists Say Trump's Tariffs Are Unfavorable for U.S. Growth
- 91% say tariffs will have ‘unfavorable consequential impacts’
- Most saw tax cuts aiding expansion in 2018 before effect fades
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Business economists are sounding some sour notes about Trump administration policies, from trade to immigration to the budget, while expecting the short-term boost to growth from Republican tax cuts to lessen over time.
The National Association for Business Economics survey showed 91 percent of respondents said current tariffs and threats of more to come were having “unfavorable consequential impacts” on the U.S. economy, according to a report released Monday. About two-thirds saw negative effects if the U.S. withdraws from the North American Free Trade Agreement with Mexico and Canada.