Tariffs: Who Should Decide? Who Pays?
October 19 @ 9:00 am – 10:00 am
Speaker: Jonathan Ernest, Assistant Professor of Economics, Weatherhead School of Management, CWRU
Do current issues of national security and foreign competition merit tariffs? In 1962 and 1974, Congress delegated to the President the power to implement tariffs to address Cold War national security concerns and to counter unfair foreign trade practices—while still promoting global trade liberalization.
Tariffs are taxes paid by importers to U.S. Customs and Border Patrol (CBP). That money goes to the U.S. Treasury. They are regressive taxes – everyone is taxed at the same rate, but low-income persons pay a higher percentage of their income than do the wealthy.
Do current trade conditions justify bypassing Congress to impose high tariffs? What will be their impact on us? Should Congress reclaim its Constitutional authority to regulate duties? What is the real cost to consumers?
In person in Fellowship Hall
or via Zoom: link
