18th-century trade theory explanation
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US Politics
Lorne Gunter: Donald Trump's delusional trade policies were debunked 200 years ago
68% Informative
Donald Trump is an 18th-century mercantilist, an adherent of trade theories that were debunked 200 years ago .
Trump thinks that to preserve domestic production and jobs, countries need to implement tariffs and trade restrictions.
But in the long run, tariffs and import barriers reduce efficiency, restrict competition and harm workers and consumers.
The Great Depression of the 1930s was made much, much worse by reciprocal tariffs.
VR Score
70
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67
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43
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informal
Language
English
Language complexity
54
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Attention-grabbing headline
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not detected
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medium-lived
External references
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Source diversity
9