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Economists: Protectionism Hurts Consumers

This week, the IGM Economic Experts Panel asked this question to its participants: Adding new or higher import duties on products such as air conditioners, cars, and cookies — to encourage producers to make them in the US — would be a good idea. Thirty-nine of the 42 economists responded with resounding “No.” Once the responses were weighted by each expert’s confidence, 70 percent of the economists strongly disagree with the statement and 30 percent disagree.
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