President Trump’s approach to tariffs fits within a longer history of American protectionism, writes economist Duncan Weldon, but was that approach ever successful?
With a self-proclaimed ‘tariff man’ back in the White House US trade policy has rarely been out of the news over the past three months. Donald Trump’s 25% tariffs on car and steel imports his 10% baseline tariff on most imports the sky-high rates now applied to China and the delayed but still technically on the table ‘reciprocal tariffs’ due to come into effect this summer all represent a major break with recent US attitudes to trade and openness. But all also fit within a longer history of American protectionism.
The Tariff Act of 1789 which placed a 5% import duty on most American imports was the second Act signed into law by George Washington a president who once noted that...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
President Trump’s approach to tariffs fits within a longer history of American protectionism, writes economist Duncan Weldon, but was that approach ever successful?
With a self-proclaimed ‘tariff man’ back in the White House US trade policy has rarely been out of the news over the past three months. Donald Trump’s 25% tariffs on car and steel imports his 10% baseline tariff on most imports the sky-high rates now applied to China and the delayed but still technically on the table ‘reciprocal tariffs’ due to come into effect this summer all represent a major break with recent US attitudes to trade and openness. But all also fit within a longer history of American protectionism.
The Tariff Act of 1789 which placed a 5% import duty on most American imports was the second Act signed into law by George Washington a president who once noted that...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
