Nearly a century ago, the U.S. government made a bold move to protect its domestic industries by enacting the Smoot-Hawley Tariff Act. Instead of shielding the economy, this policy sent shockwaves that deepened the Great Depression. ⚡
Fast forward to today, and many are wondering: Has America learned nothing from its past tariff missteps? In our deeply interconnected world, a tariff war could unleash consequences far beyond its borders—disrupting trade and rattling global markets.
For news enthusiasts, young professionals, students, and travelers alike, this serves as a powerful reminder. History shows us that protectionist policies can backfire, creating ripple effects that shake economies worldwide. So, let’s keep an eye on these developments and learn the lessons of the past! 🤔
Reference(s):
cgtn.com
