March 07, 2018

Tariffs and the Economy: Using REMI to Evaluate Impacts

President Trump’s vow to impose tariffs on aluminum and steel imports has renewed a long-time debate over trade. Can Trump’s plan achieve his goal of reviving these key domestic industries, or is he risking a global trade war and possibly hurting American consumers?

Dynamic economic modeling provides a vital tool for answering questions raised by trade and tariff policies. For example, NERA Economic Consulting analyzed the potential effects on output, income, and employment from a 30 percent across-the-board tariff on aluminum using the REMI model. The study can be accessed by clicking here.

REMI economists will be discussing how dynamic economic modeling can be used to assess the potential gains and losses resulting from the type of tariffs that the President is proposing. They will present the NERA study as a case study. Please visit our events page for more information.