2 ms·

Interesting, do you have a source to get more information about this?

• xfp 2y ago
  It's a bit difficult to nail down direct citations for what is basic knowledge of how tariffs work in reality. It's covered in AP/college macroecon and U.S. history classes. Wikipedia's articles on Smoot–Hawley and the Tariff of Abominations both have sections on their effects. In short, we'll see a brief rise in the domestic economy, then a sharp recession. One of the reasons SE Asia, BRICS, and the EU have been so active to disconnect themselves from the U.S. is they don't want to get caught up in the U.S. economic failure like they did in the 1930s.
• wrvn 2y ago
  This type of approach is called protectionism, the Wikipedia article is pretty good and goes into the implications of it: https://en.wikipedia.org/wiki/Protectionism https://en.wikipedia.org/wiki/Protectionism