Dumbest Move Since Smoot-Hawley
To the editor; President Trump has issued his list of “final” reciprocal tariffs which became effective Aug. 7th. They apply to almost all goods exported to the U.S. from sixty countries and the European Union with base rates ranging from 10 percent to 50 percent. Along with previously applied sector tariffs, the U.S. now charges an average tariff of approximately 18 percent, the highest rate since the disastrous Smoot-Hawley Bill of 1930. Trump has levied the tariffs on countries that have a trade surplus with the U.S., making the false claim that surpluses indicate unfair advantage. Trump states that countries with a trade surplus have …
