US tariff on China and potential tariffs on allies raise fears of a new trade war akin to the 1930s.

The US's 10% tariff on Chinese imports and potential tariffs on Canada, Mexico, and the EU have economists warning of a possible broad trade war. They draw parallels to the 1930 Smoot-Hawley Tariff Act, which increased global trade barriers, leading to retaliatory tariffs and a collapse in global trade that worsened the Great Depression. This historical context suggests that current trade disputes could similarly disrupt the global economy.

6 weeks ago
124 Articles