Recent sweeping tariffs announced by President Donald Trump are sparking heated debates worldwide – with some comparing the policies to those from the late 1800s! 🎩🏭
New York Times columnist Thomas Friedman warned in his article, "I Just Saw the Future. It Was Not in America," that a simplistic notion of erecting economic walls won’t magically revive U.S. manufacturing. He emphasized that modern products—from cars to smartphones—rely on intricate global supply chains that make them better and more affordable.
The Economist echoed this sentiment, describing Trump’s approach as a dramatic throwback to protectionist tactics reminiscent of the 19th century. The analysis suggested that these measures could undo decades of free global trade that have been essential for economic prosperity.
An Associated Press report highlighted concerns that the tariffs might risk inflation and even trigger trade conflicts, drawing historical parallels to policies like the Smoot-Hawley Tariff Act of 1930, which had major global repercussions.
Adding to the debate, a Reuters/Ipsos poll revealed that Trump’s approval rating has dipped to 43 percent, with many Americans wary that rising tariffs—especially on auto manufacturing—could adversely affect their daily lives.
As experts and policymakers continue to weigh in, it’s clear that these tariff moves are stirring a complex debate over the future of international trade and the U.S. economy. Stay tuned as this trade saga unfolds! 🤔
Reference(s):
U.S. trade policies 'back to late 1800s': Media on Trump's tariffs
cgtn.com
