US Edition
U.S. tariff rates under Trump will be higher than the Smoot-Hawley levels from Great Depression era
- President Trump announced new tariffs on April 2, 2025, at the White House.
- Congress delegated the power to impose tariffs, leading to executive actions.
- The new initiative includes a baseline 10% tariff and country-specific rates.
- Sarah Bianchi stated the new policy pushes the weighted average tariff rate to 24%.
- Economists warn the tariffs could trigger retaliation and harm American consumers.
17 Articles
17 Articles
Many commentators recall the Smoot-Hawley Tariff Act of 1930 to warn of the consequences of Trump's absurd trade policy. However, despite all the parallels, the proportions must be preserved.
Business Insider
BizTocThe last time the US raised tariffs this much it made the Great Depression way worse
President Donald Trump announced reciprocal tariffs on imported goods from other countries on Wednesday.Carlos Barria/REUTERSTrump increased tariffs on US imports to the highest levels in nearly a century.The Smoot-Hawley Tariff Act of 1930 raised tariffs and worsened the Great Depression.Prior to the Great Depression, Republicans were the pro-tariff party.Tariffs haven't been raised this dramatically in a long time, perhaps because the last tim…
Tariffs will hammer hardware, create consumer chaos, and could stifle the AI boom
This feels like a full economic eclipse. The sun has vanished, and everyone’s feeling around in the dark asking the same question: What do tariffs mean for me? It’s not an ideal metaphor, because a total solar eclipse is a far more common—and limited—occurrence than the global “Liberation Day” confusion sown by Trump’s tariffs. That’s not to say there isn’t historical precedent here, even if it’s alarming. In 1930, less than a year after Black …
With the tariffs announced on Wednesday by Donald Trump, the average rate of customs duties could reach 25 per cent, ten what it was at the beginning of the year. And would be well above the rate of nearly 20 per cent in 1933, the previous record.
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Bias Distribution
- 44% of the sources are Center
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