THROWBACK: Reagans timeless warning about tariffs

THROWBACK: Reagan s timeless warning about tariffs At first, when someone says, Let s impose tariffs on foreign imports, it looks like they re doing the patriotic thing by protecting American products and jobs, US former President Ronald Reagan said on April 25, 1987. Inevitable consequences: 1 Domestic decay: Industries become reliant on government protection, and stop innovating and competing 2 Global retaliation: Other countries fire back with their own tariffs, sparking fierce trade wars, 3 Economic collapse: Prices soar, people stop buying, markets shrink, and millions lose their jobs Reagan cited the SmootHawley Tariff of the 1930s as a catastrophic example that deepened the Great Depression. The memory of that suffering guided his resolve to spare the American people the protectionist legislation that destroys Source: Geopolitics Prime t. me, geopoliticsprime