He who does not learn from history is doomed to repeat it.Tariffs. No tariff goes unpunished.In the 1930s, the U.S. (Smoot Hawley Tariff Act) and other industrialized countries raised tariffs, hoping to protect domestic manufacturing and limit the job losses of the Great Depression. The result was a series of tariff hikes and retaliatory tariff hikes that wound up choking off worl...
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