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Disinformation report hotline: 010-85061466
On April 2, the U.S. imposed "reciprocal tariffs" on major trading partners, sparking global market turmoil. Economists warned it would hike U.S. prices, harm its industries and speed up economic recession. History has lessons: the 1828 Tariff of Abominations exacerbated the North-South conflict and triggered the Civil War, and the 1930 Smoot-Hawley Tariff Act pushed the U.S. into the Great Depression. Now, the "tariff curse" looms again. Facts have proven time and time again that when protectionism rises, economic prosperity declines.