Trump's Tariffs: A Protectionist Repeat of History
2025-04-03
Trump's latest round of tariffs has sparked reflection on the history of US protectionism. The article uses the US shipbuilding industry as a cautionary tale, showing how protectionist policies stifle innovation and lead to industry decline. From the Tariff Act of 1789 to today, the US repeats the same mistakes; high tariffs haven't protected domestic industries but increased consumer costs and harmed US competitiveness. Experts warn this will particularly hurt the clean energy sector, reliant on imported components. Ultimately, protectionism hinders innovation and backfires.
Tech
protectionism