Reported 2 days ago
President Donald Trump's recent trade policy introduces tariffs that raise the effective U.S. tariff rate to its highest since 1909, marking a stark departure from post-WWII free trade norms. Experts warn this change may lead to increased inflation and reduced economic growth, drawing comparisons to the Smoot-Hawley Tariff Act of 1930, which deepened the Great Depression. With China already retaliating, the potential for a global trade war looms, prompting concerns about an impending recession.
Source: YAHOO