History can help us try to understand Donald Trump’s tariff, says Professor – Winbeg

On what US President Donald Trump called “Tahrir’s Day”, the American leader imposed the so -called “mutual” tariff policy on dozens of foreign countries.

During its issuance, Trump also referred to a historical law called the 1930 SMOOOT Hawley Law that he claimed would have provided the United States from the Great Depression if not eliminated.

The minutes of the minutes quickly rushed to the ruling on whether the law has strengthened the American economy or depression, while social media has quickly flooded clips of the classic film Ferris Boyle holiday, The protagonist in the classroom includes learning about action, as his teacher blamed the work of Herbert Hoover at the time to make the great depression worse.

The history professor at the University of Manitoba, George Puri, does not agree with this confirmation, saying that its effects were very important.

Buri, who highlighted the famous cinema scene, reveals that Ben Stein, the actor who played the role of the teacher, was an expert in the free market and a conservative before he turned into the comedian. During the production of the film, he was already told to present a boring lesson by the director.

Buri finds that it is interesting that he gave that lecture, because it is a direct reflection of what was preached during the 1980s in the era of Tishcher and Rigan, a time when Kenezi policies and government intervention were seen as something in the past. Buri believes it was a decrease in the demand that caused great depression, not definitions.

He said: “Since these politicians are trying mainly in the eighties of the last century, the correct economic policies they prefer are to return to open markets, Laissez faire and free trade. They are mainly looking to say that the customs tariff is always bad.”

“In the eighties of the last century, there is this new theory that truly causing depression was not Laissez faire, so it should be a SMOOT Hawley tariff.”

New regulations and capital investments from the administration of President Franklin de Roosevelt at that time rescued banks, created social welfare systems, and to help end the great depression.

Meanwhile, Hoover’s tariff was seen as a failure to improve the economy. Due to the presence of such a low demand in a variety of sectors, the definitions that were supposed to encourage Americans to buy the cheapest local goods have become meaningless because prices were already low. From 1928 to 1933, Bouchel fell from the price of wheat from $ 1.29 to 34 cents.

Although they created difficult conditions in Canada, the broader effects of great depression were much greater than the SMOOT Hawley tariff.

Uttawa tried to block the gap using mutual definitions in response, but it did not succeed in the end. It is the American recovery that helped the integrated natural resource system to reach speed, while the production of wartime in the late thirties of the twentieth century has increased the demand for materials and ends the financial crisis in Canada.

Going now

• Snowbird Selloff: Canadians compete with our characteristics

• Katie Perry, the launch of the crew of all females in space at the blue origin

Although the definitions seem to play a little role during depression, it was the spark that ignited the northern nations schedule.

After the Great Britain ended its preferential exchange with the imperial colonies, the Supreme and Lower Canada, as well as Nova Scotia and New Bronzwek began to trade with their southern neighbors. However, these relations became complicated when the United States implemented definitions in 1866 after Britain provided support for the Confederation of Cotton and Sugar in the American Civil War.

“This is literally what Canada was born,” said Buri.

“In 1866, America ends the reciprocity, and the next year in 1867 in Canada, the upper and lower Canada, and the New Bronzwek and Nova Scotia, decided to form contemporary Canada based on this new idea,“ We ​​cannot trade with Britain, and we cannot trade with the United States, so why do we not trade with each other and form a larger entity? “

Once the country was formed, Buri notes that the expansion of East and West was fueled by the customs tariff carried out by John A. McDonald, forcing Canadians to trade above 49^Y Parallel, protecting the new nation from American influence.

While free trade was the early economic incentive, Buri says that the movement has appeared in the 1980s, as American companies infiltrated the north, which is a side effect that the smaller economy in Canada is very integrated with its financial system for the neighborhood of the south.

Although the customs tariff had completely different effects for both Canadians and Americans, the history of the two countries is full of stories related to tariffs that clarify their economic policies and develop them. Although Buri does not agree to Trump’s methods behind the definitions, the historian understands the logical basis.

“There is a real problem with the American economy,” he said.

“This is not completely random. It is an attempt to reverse the direction of several crops for the decline in the US industrial economy and America has become more and more in Wall Street and the US dollar, which in 2008 could be a recipe for disaster.”

“I think America is trying to address some very real problems with its economy. Whether it will work or not, I don’t know.”

& Copy 2025 Global News, a Division of Corus Entertainment Inc.