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U.S. tariffs on China: A self-defeating strategy?
https://www.youtube.com/watch?v=wXvBaJPAmyo
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The U.S. is citing the fentanyl issue as a pretext to impose an additional 10 percent tariff on Chinese imports. #China condemned this as "repayment of kindness with hostility" and retaliated by increasing tariffs on U.S. goods and implementing non-tariff measures starting March 10. American economists warn that these tariffs will backfire. Historically, the Smoot-Hawley Tariff Act of 1930 led to a 70 percent drop in U.S. imports and exacerbated the Great Depression. The U.S. later enacted the Reciprocal Tariff Act of 1934 to reduce tariffs and ease the crisis.
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from CGTN
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