

Hot Money War w/ China
Apr 10, 2025
Dive into the chaotic world of American tariffs, where history meets humor! Explore the messy evolution from Hamilton to modern trade wars with China. Discover the highs and lows of protectionist policies, including the infamous Trump Tariffs. With playful anecdotes, the hosts dissect how past conflicts shape today's economic landscape while sprinkling in their comedic take on quirky names and fictional currencies. Buckle up for a wild ride through economics, laughter, and historical insights!
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Early American Tariffs
- Alexander Hamilton introduced the first tariffs to generate government revenue and protect nascent American industries.
- The South opposed these tariffs, viewing them as unfairly benefiting the North due to their reliance on imported goods and slave labor.
Tariff of Abominations
- The Tariff of Abominations (1828) led to the Nullification Crisis, with South Carolina threatening secession.
- Vice President John C. Calhoun resigned over the tariff, highlighting the growing North-South divide.
FDR's Trade Approach
- FDR's Reciprocal Trade Agreements Act of 1934 shifted the focus from protectionism to bilateral negotiations.
- This approach aimed to reduce trade barriers through mutual concessions and agreements.