The Trouble With Tariffs: the Smoot-Hawley Act
Stuff They Don't Want You To Know
00:00
Understanding Tariffs: Purpose and Impact
This chapter explores the concept of tariffs, examining their classification and the differences between import and export tariffs. It discusses the role of international trade organizations, the implications of protectionism, and the balance between supporting domestic industries and consumer prices. Real-world examples, including recent U.S. tariffs on steel and aluminum, illustrate the complexities and political motivations that underlie tariff implementation in global trade.
Transcript
Play full episode
