Originally
posted by
CKHustler:
We can argue about lots of stuff, but raising tariffs will almost certainly cause a depression. Check out the Hawley-Smoot tariff in 1930 that Hoover put into place. It basically caused the unemployment the great depression had in America.
If your industry keeps getting sent offshore because it's "cheaper", then tariffs would make keeping those industries locally would be beneficial, which should prevent any such "recession"; if you're primarily exporting, then the inevitable reciprocating tariffs will lead to a possible recession; i think the states is consuming more than it is exporting these days though, unlike the '30's