(Note: This episode originally ran in 2018.)
The Smoot-Hawley Tariffs were a debacle that helped plunge America into the Great Depression. What can we learn from them?
Today on the show, we tell the nearly 100-year-old story of Smoot and Hawley, that explains why Congress decided to delegate tariff power to the executive branch in the first place. It's a story that weaves in wool, humble buckwheat, tiny little goldfish, and even Ferris Bueller... Anyone? Anyone?
It's also what set the stage for the Trump tariffs.
President-elect Donald Trump enacted a heap of import taxes in his first term, in particular on goods from China. President Biden's administration largely kept those tariffs in place, and levied new tariffs as well, on electric vehicles and solar panels.
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It's Christmastime, Charlie Brown! And with Christmastime comes Christmas movies like the aptly name
BP on Cusp of ‘Bottom Kill’ to Permanently Plug Source of Oil Spill in Gulf (Washington Post)BP and
The potential fine Enbridge, Inc. expects for spilling more than 1 million gallons of tar sands oil