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4 sats \ 4 replies \ @Bell_curve 5 Nov \ on: A Brief History of Tariffs and Stock Market Crises econ
The tariff amount matters. Is it 3 percent, 30 or 300?
Tariffs on steel are over 100 percent.
The commonly accepted 10% rate to bring in tariff money to the government is standard, over that is not fair, according to WTO.
When they are not fair, you can expect retaliation.
But, who is to say what fair is?
Fair is always in August!
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I don't recall having studied models with sector specific tariffs, but there are standard trade models that indicate the US could be a net beneficiary of tariffs as high as 30%.
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How high were tariffs before the income tax amendment in 1913?
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Don't know. Not a historian.
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