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Tariffs are essentially a sales tax on imports. Historically, the US has been reducing barriers to trade since 1934. Do today's tariffs encourage export companies to lower prices and reduce margins?
Tariffs are essentially a sales tax on imports. Historically, the US has been reducing barriers to trade since 1934. Tariff theory generally assumes that trade barriers will lead to more domestic production, though at higher prices for both the domestic and imported goods. In short, inflation is one outcome. There is a wrinkle, in that there can be an “optimal” level of tariffs, where the exporting company lowers its prices and reduces its margins. This can occur for countries which have buying power. Timothy F. Kearney will discuss today’s blanket tariffs, and if they are “optimal”?
About the Presenter: Timothy F. Kearney, PhD, is the Director of the MBA Program and Assistant Professor of the Business Department at Centenary University. In addition, he is a North American Economics Consultant for IDEAglobal, Inc. Active in the financial markets as a macroeconomist, market strategist, portfolio manager and academic for nearly 40 years, Dr. Kearney began his career during the emerging market debt crisis in the early 1980s, covering Latin America and Eastern Europe for Mellon Bank. At Bear Stearns, he co-led the #1 rated Institutional Investor Latin American Economic Research Team and was a contributing member of the #1 rated US Economic team. He was Emerging Market portfolio manager with Prudential Investments during the Asian/Russian crises of the 1990s, International Economist with Fidelity Investments during the Mexican peso crisis, Portfolio Manager with Lora Abbett during the Great Recession of 2007/2008. He is also the former Chair of Business at Misericordia University. Dr. Kearney believes it is the role of the strategist to understand past market and economic history, analyze current developments and use those insights to guide future discussions.
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