Title: The US tried extra-high tariffs before, in 1930. It was a disaster.
Headings: The US tried extra-high tariffs before, in 1930. It was a disaster.
The US tried extra-high tariffs before, in 1930. It was a disaster.
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Content: Many historians argue that the deteriorating world economy helped set the stage for World War II, a sobering thought. So, if Trump imposes especially high tariffs, could it set off another global trade war? “It’s possible, it is very possible,” says Cohen. “ He said he’s going to slap 45 percent tariffs on everything coming out of China. I don’t know, let’s say he does it. I would hate to be owning Apple Stock or Boeing stock that morning.” Meaning: China could quickly retaliate against American interests. And those iPhones made in China? A tariff would immediately make them even more expensive for American consumers.