politics

Democrats and Republicans fully differ on whether Trump’s tariff policies help or harm the economy if implemented like he says

Anyone with good, informed takes on this?

would raise effective average U.S. tariff levels to 17.7%, the highest since 1934, according to the conservative-leaning Tax Foundation. The plans have drawn comparisons to the Smoot-Hawley Tariff Act of 1930, which sharply raised U.S. tariffs, triggering retaliation and a global collapse of trade that helped worsen the Great Depression.

would raise effective average U.S. tariff levels to 17.7%, the highest since 1934, according to the conservative-leaning Tax Foundation. The plans have drawn comparisons to the Smoot-Hawley Tariff Act of 1930, which sharply raised U.S. tariffs, triggering retaliation and a global collapse of trade that helped worsen the Great Depression.

https://www.reuters.com/markets/trumps-tariffs-would-reorder-trade-flows-raise-costs-draw-retaliation-2024-11-04/