Rising tensions in the Middle East
Fareed Zakaria GPS
00:00
Tariffs Fail: History Repeats
The persistence of tariffs on China has proven ineffective, exacerbating the trade deficit rather than reducing it. Despite other nations being blamed for tariff costs, evidence shows American consumers bear the financial burden, facing losses in the tens of billions. Research indicates that Trump's tariffs would inflate costs by $500 billion annually. This highlights a disconnect between ideological beliefs and tangible economic outcomes, reflecting a historical pattern where tariffs spark significant public unrest, as seen in the American Revolution.
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