Tariffs have NEVER worked. They generally have the exact opposite effect of what was intended.
The Hawley–Smoot Tariff act certainly worked out well for Hoover didn’t it.
Those who do not learn from history are doomed to repeat it.
Tariffs helped the US develop industrially. Tariffs don’t work so well when you are an exporting nation like the US was in the early 20th century.
While it is true that “Those who do not learn from history are doomed to repeat it”, it is equally true that those who don’t realize that times have changed will make entirely new mistakes.
“The general who fights the last war, loses the current war”
It is now the 21st century, and the US is an IMPORTING nation.
“Tariffs have NEVER worked. They generally have the exact opposite effect of what was intended.
The Hawley–Smoot Tariff act certainly worked out well for Hoover didn’t it.
Those who do not learn from history are doomed to repeat it.”
Thanks for bringing that up. That tariff basically caused the great depression. It was much more harmful than the 1929 stock market crash.