Select an option below to continue reading this premium story.
Already a Honolulu Star-Advertiser subscriber? Log in now to continue reading.
It is unfortunate that Donald Trump is not a student of history, because the tariffs he seeks to impose on Canada and Mexico — currently on hold — will lead to catastrophic results for the United States economically and politically.
In 1930 the U.S. imposed similar tariffs that resulted in the destruction of global trade and exacerbated the Great Depression. The Republican Party used the same “America first” arguments that Trump has stolen to make his case.
Economists warned President Herbert Hoover and advised him to veto the tariff legislation. More than 20 countries retaliated with tariffs against American products, and U.S. exports fell from $7 billion in 1929 to $2.5 billion in 1932. The number of unemployed Americans tripled. Both Trump and Hoover saw trade is a zero sum game. As a consequence, the ordinary American will suffer as a result of this stupidity.
Harry Wruck
Waikiki
EXPRESS YOURSELF
The Honolulu Star-Advertiser welcomes all opinions. Want your voice to be heard? Submit a letter to the editor.
>> Write us: We welcome letters up to 150 words, and guest columns of 500-600 words. We reserve the right to edit for clarity and length. Include your name, address and daytime phone number.
>> Mail: Letters to the Editor, Honolulu Star-Advertiser 7 Waterfront Plaza, 500 Ala Moana, Suite #7-500 Honolulu, HI 96813
>> Contact: 529-4831 (phone), letters@staradvertiser.com, staradvertiser.com/editorial/submit-letter