Current:Home > FinanceWorst. Tariffs. Ever. (update) -Global Finance Compass
Worst. Tariffs. Ever. (update)
View
Date:2025-04-14 04:20:07
(Note: This episode originally ran in 2018.)
The Smoot-Hawley Tariffs were a debacle that helped plunge America into the Great Depression. What can we learn from them?
Today on the show, we tell the nearly 100-year-old story of Smoot and Hawley, that explains why Congress decided to delegate tariff power to the executive branch in the first place. It's a story that weaves in wool, humble buckwheat, tiny little goldfish, and even Ferris Bueller... Anyone? Anyone?
It's also what set the stage for the Trump tariffs.
President-elect Donald Trump enacted a heap of import taxes in his first term, in particular on goods from China. President Biden's administration largely kept those tariffs in place, and levied new tariffs as well, on electric vehicles and solar panels.
veryGood! (38365)
Related
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Small biz owners are both hopeful and anxious about the holidays, taking a cue from their customers
- What’s streaming now: Annette Bening, Jason Aldean, ‘Planet Earth,’ NKOTB and ‘Blue Eye Samurai’
- LSU vs. Alabama: The best plays and biggest moments from Crimson Tide's win over Tigers
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- What young athletes can learn from the late Frank Howard – and not Bob Knight
- Supreme Court agrees to hear case over ban on bump stocks for firearms
- A Ukrainian missile strike on a shipyard in Crimea damages a Russian ship
- Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
- Maine mass shooter was alive for most of massive 2-day search, autopsy suggests
Ranking
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- A Ukrainian missile strike on a shipyard in Crimea damages a Russian ship
- Arkansas man arrested after trying to crash through gates at South Carolina nuclear plant
- The hostage situation at Hamburg Airport ends with a man in custody and 4-year-old daughter safe
- A South Texas lawmaker’s 15
- Nepal earthquake kills more than 150 people after houses collapse
- Cardinals rookie QB Clayton Tune to start at Browns; Kyler Murray waiting game continues
- Women’s lawsuit accuses Kansas City, Kansas, of allowing police corruption to thrive for years
Recommendation
Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
Is love in the air? Travis Kelce asked if he's in love with Taylor Swift. Here's what he said.
Khloe Kardashian's Daughter True Thompson Reveals How She Lost Her Front Tooth in Adorable Video
Lawsuit claims Russell Brand sexually assaulted woman on the set of Arthur
The company planning a successor to Concorde makes its first supersonic test
Victims of abusive Native American boarding schools to share experiences in Montana
Off-duty Los Angeles police officer, passenger killed by suspected drunken driver, authorities say
Reneé Rapp duets with Kesha, shows off powerhouse voice at stunning New York concert