Trump proposes tariffs… Trump’s supporters support it… all without thinking and both ignoring consequences. Trump and his supporters think that trade wars are easy, long overdue and that they can be easily won.
They cannot.
All involved will lose. And all will lose big.
Learn how the Smoot-Hawley tariff act of 1930 helped tank the world economy. And why it means that today, 90 years later, President Trump has the power to start what many people say is a trade war.
Listen to the following podcast (source: Planet Money)
While the entire world moved away from tariffs since 1930, Drumpf, who is stuck in 1930 is returning back to it and is going for all Americans to repeat the History. You know, when you do not learn or forget history, you are doomed to repeat it. Brace yourself for a New Great Depression.
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