Hey, have you heard the news? 📣 Over 970 people, including many top experts called economists (they study how money and trade work), have signed a big letter saying that tariffs are not a good idea! 😮
So, what’s a tariff? 🤔 It’s like a tax that a country puts on products it brings in from other countries. Imagine if your favorite toy suddenly cost more because of an extra fee! That’s what tariffs can do.
These economists are worried about the tariff policies introduced by U.S. President Donald Trump’s administration. They think these tariffs could actually hurt people by making things more expensive and even cause problems like a recession (that’s when the economy slows down and people might lose jobs).
In their letter, called the “Trade and Tariffs Declaration: A Statement on the Principles of American Prosperity,” they say that these tariffs are based on wrong ideas and could harm not just the United States but also many other countries and regions around the world. 🌍
The tariffs were affecting over 180 countries and regions! That’s a lot! 😯 The economists believe that these tariffs are calculated using a formula that doesn’t make sense and isn’t based on real economic facts.
They also point out that while the goal was to help U.S. businesses, these policies might actually make things worse. Prices could go up, and it might be harder for people to buy the things they need.
The letter ends by hoping that good economic principles and real evidence will help change these policies. They believe that working together with other countries is better than putting up barriers like tariffs. 🤝
Isn’t it interesting how decisions about trade can affect so many people? It’s like a giant puzzle where all the pieces are connected! 🧩
Reference(s):
cgtn.com
