John O’Donnell and Dr. Richard Ebeling discuss history of trade wars from 1500’s mercantilists thru today.
Most forget Boston Tea Party was USA start of trade war that led to a revolution and the world changed forever. We also discuss the Smoot/Hawley in 1930’s, opium wars in China with British merchants, Japan auto, bananas, timber and other trade wars that basically destroy jobs and cheap goods available for consumer consumption. Stop the “trade war insanity” and learn from history this basic princple: No one wins in a trade war. Tariffs are only taxes on consumer goods.
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