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But a pair of new studies concludes that he is wrong. “When we impose a tariff, it is the domestic consumers and purchasers of imports that bear the full cost of the tariffs,” said David Weinstein, an economics professor at Columbia University, who co-authored one of the papers.

A recent Washington Post editorial and a letter by leading economists suggest that a carbon tax is the “best first-line policy.” The editorial argues that “a high-enough carbon price would shape millions of choices, small and large, about what to buy, how to invest and how to live that would result in substantial emissions cuts.” It sounds plausible, yet it’s not the right way to approach the problem. … Jeffrey Sachs is university professor and director of the Center for

David Weinstein of Columbia University, a co-author of one of the papers, called Trump’s trade war “kind of the worst-case scenario” for consumers. The conclusion of his paper notes an economic reality that Trump either ignores or misunderstands: Import protectionism causes real income losses.

Economists from Columbia, Princeton, and the New York Federal Reserve use detailed import data to assess the tariffs’ impact. This paper explores the impacts of the Trump administration’s trade policy on prices and welfare.

Economist Wojciech Kopczuk has been selected as a Visiting Scholar at the Russell Sage Foundation for the 2019-2020 academic year.