Even with the pause, we now have the highest overall average effective tariff rate since 1909 - higher even than the infamous Smoot-Hawley tariff of 1930 that played a major role in deepening the Great Depression. And that includes high tariffs on nations like Switzerland and Israel, which don’t impose any tariffs on US goods - thereby giving the lie to the notion that Trump’s trade war is about breaking down “unfair” trade practices by other nations.
Read other posts