According to Business Insider, on April 19 local time, hundreds of economists, including two Nobel laureates, signed an "anti-tariff declaration" to criticize US President Donald Trump's tariff policy, describing it as "misleading" and warning that it could lead to a "self-inflicted recession."

As of 00:08 local time on April 20, the "anti-tariff" website showed that 976 people had signed this "anti-tariff declaration."

It was reported that the "anti-tariff declaration" warned that it was urgent to revoke the "incoherent and destructive policies" of the Trump administration in trade. "The supporters of tariffs describe these measures as 'economic liberation' actions. However, in fact, tariffs undermine the free principles that once led to the era of freedom and prosperity under American leadership," the statement read.

"The motivation behind the current government's imposition of tariffs is a misunderstanding of the economic situation faced by ordinary Americans. We expect that American workers will bear the consequences of these wrong policies, including rising prices and the risk of self-inflicted recessions," the "anti-tariff declaration" stated.

It was reported that notable signatories of the "anti-tariff declaration" include Nobel laureates James Heckman and Vernon Smith, Greg Mankiw, former chairman of the Council of Economic Advisers under US President George W. Bush, economist and former Republican Senator Phil Gramm of Texas, among others.

The signatories particularly criticized Trump's so-called "reciprocal tariffs." The "anti-tariff declaration" stated: "The rates of the 'reciprocal tariffs' that the United States threatens and imposes on other countries are calculated using a flawed temporary formula and lack any basis in economic reality."

The "anti-tariff declaration" added: "We still hope that sound economic principles, empirical evidence, and historical warnings will triumph over the current protectionist myths."

It was reported that the White House did not immediately respond to Business Insider's request for comment.

On April 2, Trump signed the tariff executive order. Reuters

April 2 was called "Liberation Day" by Trump. On that day, Trump signed an executive order regarding the so-called "reciprocal tariffs." A week later, he announced a 90-day deferral for most countries to implement the "reciprocal tariffs," but retained a 10% benchmark tariff.

Business Insider pointed out that Trump's tariff policy has encountered growing resistance within the Republican Party.

In early April, seven Republican senators expressed support for a bipartisan bill aimed at restricting Trump's unilateral power to impose tariffs. The bill requires the US president to notify Congress within 48 hours of imposing new tariffs or increasing existing ones, explaining the impact of the tariff measures on American businesses and consumers. Additionally, all new tariff measures will automatically expire 60 days later unless Congress passes a resolution approving the tariffs during that period.

Trump described these Republican opponents as "rebels" and "attention-seekers."

"I see some rebellious Republicans and some attention-seekers who say, 'I think Congress should take over negotiations.' Let me tell you, you won't negotiate like I do," Trump said, adding that if Congress took over tariff negotiations, they would "quickly sell out America."

Trump also said that discussions in Congress about limiting his tariff powers would damage negotiations, and that fake news outlets would try to stoke such emotions anyway.

This article is an exclusive piece by Guancha Observer and cannot be reprinted without permission.

Original source: https://www.toutiao.com/article/7495245395350602251/

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