Economic Nationalism Gone Wrong: From Smoot-Hawley to Trump’s Tariff Fallout.
(ThyBlackMan.com) History may not perfectly repeat itself, but it often rhymes. Two protectionist episodes — the infamous Smoot-Hawley Tariff Act of 1930 and the Trump-era tariffs of today — offer a striking example. Both emerged from economic nostalgia and fear of change. Both were politically attractive. And both were costly, backward-looking mistakes that undermined the economies they were meant to protect. Smoot-Hawley was conceived in an America uneasy about economic […]