AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 132.35 Increased By ▲ 2.82 (2.18%)
BOP 6.87 Increased By ▲ 0.19 (2.84%)
CNERGY 4.58 Decreased By ▼ -0.05 (-1.08%)
DCL 8.84 Decreased By ▼ -0.10 (-1.12%)
DFML 42.90 Increased By ▲ 1.21 (2.9%)
DGKC 84.60 Increased By ▲ 0.83 (0.99%)
FCCL 32.99 Increased By ▲ 0.22 (0.67%)
FFBL 77.40 Increased By ▲ 1.93 (2.56%)
FFL 12.21 Increased By ▲ 0.74 (6.45%)
HUBC 110.23 Decreased By ▼ -0.32 (-0.29%)
HUMNL 14.42 Decreased By ▼ -0.14 (-0.96%)
KEL 5.57 Increased By ▲ 0.18 (3.34%)
KOSM 8.34 Decreased By ▼ -0.06 (-0.71%)
MLCF 39.75 Decreased By ▼ -0.04 (-0.1%)
NBP 65.50 Increased By ▲ 5.21 (8.64%)
OGDC 198.99 Decreased By ▼ -0.67 (-0.34%)
PAEL 26.00 Decreased By ▼ -0.65 (-2.44%)
PIBTL 7.63 Decreased By ▼ -0.03 (-0.39%)
PPL 159.00 Increased By ▲ 1.08 (0.68%)
PRL 26.20 Decreased By ▼ -0.53 (-1.98%)
PTC 18.50 Increased By ▲ 0.04 (0.22%)
SEARL 81.95 Decreased By ▼ -0.49 (-0.59%)
TELE 8.14 Decreased By ▼ -0.17 (-2.05%)
TOMCL 34.48 Decreased By ▼ -0.03 (-0.09%)
TPLP 8.98 Decreased By ▼ -0.08 (-0.88%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.26 Decreased By ▼ -2.06 (-3.36%)
UNITY 27.55 Increased By ▲ 0.12 (0.44%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,627 Increased By 220.4 (2.12%)
BR30 31,916 Increased By 203 (0.64%)
KSE100 98,938 Increased By 1609.8 (1.65%)
KSE30 30,786 Increased By 593.7 (1.97%)

More than 1,100 US economists signed a letter sent to President Donald Trump and to Congress on Thursday urging them to avoid repeating the mistakes that worsened the Depression in the 1930s. The economic advisors to two Republican and two Democratic presidents and 15 Nobel laureates were among those urging the administration to fend off "a host of new protectionist activity, including threats to withdraw from trade agreements, misguided calls for new tariffs in response to trade imbalances, and the imposition of tariffs."
The letter, from the National Taxpayers Union, which advocates for tax reform and government spending cuts, was sent on the anniversary of a similar missive sent to Congress on May 3, 1930.
That letter also featured more than 1,000 economists urging legislators to reject the Smoot-Hawley Tariff Act, a trade measure widely blamed for deepening and prolonging the global economic crisis.
"Congress did not take economists' advice in 1930 and Americans across the country paid the price," the NTU said. "The undersigned economists and teachers of economics strongly urge you not to repeat that mistake."

Copyright Agence France-Presse, 2018

Comments

Comments are closed.