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A short history of tariffs — and why Trump's actions mark a radical break from global trade history
For most of human history, governments have taxed goods crossing their borders. Tariffs have financed empires, protected domestic industries, and punished foreign rivals. They’ve sparked wars, crashed economies, and redefined alliances. Yet the tariff war between the U.S. and China doesn’t fit neatly into any of the old molds. Rather than being a tool to nurture domestic industry or fill government coffers, tariffs are now being wielded as weapons in a sprawling contest over
Rick Dunham
May 16, 202514 min read
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