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200 Economists: “Costly protectionism should not be foisted on patients at home and abroad”

Summary:
From an open letter to Mr. Trump: A Buy America directive can also hamstring the ability of U.S. pharmaceutical and medical equipment manufacturers to meet our future needs if firms are denied access to essential foreign supplies. Moreover, we can expect our trading partners to adopt retaliatory “Don’t Buy American” barriers targeting U.S. exports as this type of retaliation is already occurring between other countries. Some reporting at NPR and Politico, discussing Peter Navarro’s push to have an executive order issued. The Congressional Research Service has an April report on protectionist measures in place, and being considered. Chad Bown has outlined the counterproductive aspects of the administration’s efforts. The signatories to the letter span a broad cross-section of economists.

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From an open letter to Mr. Trump:

A Buy America directive can also hamstring the ability of U.S. pharmaceutical and medical equipment manufacturers to meet our future needs if firms are denied access to essential foreign supplies. Moreover, we can expect our trading partners to adopt retaliatory “Don’t Buy American” barriers targeting U.S. exports as this type of retaliation is already occurring between other countries.

Some reporting at NPR and Politico, discussing Peter Navarro’s push to have an executive order issued. The Congressional Research Service has an April report on protectionist measures in place, and being considered. Chad Bown has outlined the counterproductive aspects of the administration’s efforts.

The signatories to the letter span a broad cross-section of economists.

Menzie Chinn
He is Professor of Public Affairs and Economics at the University of Wisconsin, Madison

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