Trump’s tariffs on Mexico and Canada mark the first step; China and others to follow. The last big trade war was in 1930 at the start of the Great Depression.

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The last significant trade conflict between the U.S. and Canada was indeed during the Great Depression in the 1930s. The Smoot-Hawley Tariff Act of 1930 led to increased tariffs on thousands of imported goods, which resulted in retaliatory tariffs from Canada and other countries, exacerbating the economic downturn.

President-elect Donald Trump has recently called on the European Union to increase its purchase of American oil and gas. He warned that if the EU doesn’t address the trade imbalance by buying more U.S. energy, tariffs could be imposed.

Here are the products and companies most at risk from Trump’s tariff plans

  • Tariff proposals put the complex global supply chain front and center as President-elect Donald Trump was inaugurated Monday.
  • On the campaign trail, Trump said he would add tariffs for goods made in other countries, especially China.
  • Those higher costs on sneakers, cars, furniture and more could force many consumers to change their buying habits.

 

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