Observatoire des droits humains (anglais seulement)

Tariffs and trade wars: here’s what Trump is failing to learn from the Great Depression

(Version anglaise seulement)

par Deniz Torcu, Adjunct Professor of Globalization, Business and Media, IE University

Imagine waking up in 1932, in any US city. Upon ordering your morning coffee, you realise that its price has doubled since last year. This isn’t because of a coffee shortage, but rather because new trade barriers have caused the price of importing Colombian coffee beans to shoot up. The same thing has happened to sugar, tea and cocoa. Everyday items have suddenly become a luxury.

This dramatic change stemmed from one of the most harmful decisions in modern economic history: the Smoot-Hawley…

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