00:00It's Benzinga, bringing Wall Street to Main Street
00:02University of Michigan economist Justin Wolfers criticized the Trump administration's new tariff
00:07framework, arguing the policy is more likely to survive legal challenges but will still fail
00:12economically. According to Benzinga, Wolfers called the tariffs a new wrapper, same rotten policy
00:17after the administration shifted to Section 301 investigation powers following earlier court
00:23setbacks. He said the 2.5 percentage point gap between the two tariff rates is too small to
00:28change trade behavior and argued the policy will weaken U.S. leverage with trading partners
00:33while raising prices for American consumers. Wolfers compared the administration's trade
00:38policy to a horror movie zombie, arguing that changing the legal justification does not change
00:43the underlying economics and will still leave Americans paying higher prices. For all things
00:48money, visit Benzinga.com.
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