#TheRealDonaldTrump and Feldstein Are Wrong About Import Tariffs

When you just gotta try something but forgot to check the history books first.

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Donald Trump and Martin Feldstein propose new import tariffs.

Here is the historical proof that this is a bad idea.

https://history.state.gov/milestones/1921-1936/protectionism

Specifically this paragraph:

U.S. imports from Europe declined from a 1929 high of $1,334 million to just $390 million in 1932, while U.S. exports to Europe fell from $2,341 million in 1929 to $784 million in 1932.

Overall, world trade declined by some 66% between 1929 and 1934.

As they said in Hill Street Blues, “Let’s be careful out there.”

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