Majority Of Economists Think Tariffs To Harm US Economy - Survey

Majority of Economists Think Tariffs to Harm US Economy - Survey

More than 90 percent of economists believe tariffs will have a negative effect on the US economy, a poll conducted by the National Association for Business Economics (NABE) showed on Monday.

WASHINGTON (Pakistan Point News / Sputnik - 20th August, 2018) More than 90 percent of economists believe tariffs will have a negative effect on the US economy, a poll conducted by the National Association for business Economics (NABE) showed 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 US economy," the association's Vice President Kevin Swift said in a press release announcing the release of the August 2018 NABE policy survey.

The United States has imposed aluminum and steel tariffs and is now facing retaliatory duties from many of those countries, including China and Turkey.

According to 66 percent of those surveyed, withdrawing from the North American Free Trade Agreement (NAFTA) would also have a negative impact on the US economy.

The United States, Mexico and Canada began renegotiating NAFTA after President Donald Trump threatened to withdraw from the trade deal unless changes are made to better serve US interests.

The NABE survey also revealed that most economists think Trump's actions on immigration will have an unfavorable impact on the US economy.

The Trump administration has sought to crack down on illegal immigration, and has declared a "zero tolerance" policy toward migrants who enter the United States illegally.