McKinley Tariff 1890

High Tariffs On Major Trading Partners Will Devastate The American Economy!

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If Donald Trump follows through on his threats to add a 25 percent tariff on all imports from Canada and Mexico, and 10 percent on Chinese imports, it will devastate the American economy in short order.

Besides worsening relations with our three major trading partners, it will cause massive rises in prices on all kinds of goods, such as:

Clothing
Furniture
Household Appliances
Toys
Food
Automobiles
Travel Goods
Smart Phones

It will worse our relations with our neighbors, and destroy the USMCA trade agreements, promoting distrust with both Canada and Mexico, who share thousands of miles of boundaries, and undermine our relationship with China, our leading rival in world affairs.

It will be destructive of international relations, and of American economic progress, which had advanced under Joe Biden, despite the inflation problem.

If Americans voted against the Democrats on the inflation issue, they will get a rude awakening under Donald Trump, as we will have similar situation as we had in the Great Depression due to Herbert Hoover and the Smoot-Hawley Tariff of 1930, and the Panic of 1893 due to Benjamin Harrison and the McKinley Tariff of 1890.

The War Cabinet Emerges: Larry Kudlow, Mike Pompeo, And John Bolton: Great Depression And Aggressive War Against North Korea And Iran On The Horizon!

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Donald Trump has now forced out Gary Cohn, Rex Tillerson, and H. R. Mc Master, and replaced them with Larry Kudlow, Mike Pompeo, and John Bolton, and this turnover after only 14 months in the White House is a danger sign of trouble ahead.

Trump’s “Tariff Wars”, discouraged by Cohn, now will move forward, and Tillerson and Mc Master, both strong in their criticism of Trump oriented foreign policy of “America First”, upending traditional foreign policy for 70 years, now will move into a phase of aggressiveness in foreign policy that is likely to lead to warfare.

One can now expect that we might end up in a Great Depression, or at least a Great Recession, as we are going down the road of protectionism, which was pursued by Benjamin Harrison in 1890 with the McKinley Tariff, which led to the Panic of 1893; and also pursued by Herbert Hoover in 1930 with the Smoot Hawley Tariff, which made the already begun Great Depression much more deeper.

And we can expect that with Mike Pompeo and particularly, John Bolton, two hawks in foreign policy, the first being a Tea Party activist elected to the House of Representatives, and the second, unable to be confirmed by a Republican Senate to be United Nations Ambassador, and only there for less than a year as a recess appointment under George W. Bush, and very much advocating “regime change” regarding North Korea and Iran, we can expect two wars before the year 2018 is over.

Trump may be thinking that getting engaged in two wars will cause “patriots” to rally around the flag, and help the Republicans to retain their control of both houses of Congress, and one must recall that in Presidential years, anytime there there has been a war, the President running for reelection has always won.

So Trump might be planning to use war as a way to a second term in office, which history must make every sane person be alarmed over such prospect!