Reported 1 day ago
The chicken tax, imposed in 1963 by President Lyndon Johnson as a retaliatory measure against European tariffs on American chickens, continues to shape the U.S. auto market, particularly regarding pickups. While it aimed to protect American automakers by raising costs for foreign competitors, it inadvertently led to higher prices and limited choices for consumers. Despite its original purpose being obsolete, the tax persists, highlighting the complexities and long-term effects of tariffs in global trade dynamics, especially amidst recent trade tensions under President Trump.
Source: YAHOO