In his speech, about 19 minutes, Trump was assigned a rectangular board with the list of countries and regions and the tariff charged over the US. It was also mentioned that mutual tariffs would be charged with America. But this was not the first time that a country took such a measure.
In the last century, global powers have often used tariffs – as an economic weapon and a bargaining tool.
Here is a brief history of tariff wars:
Corn law (1815–1846)
Following the Napoleon wars, Britain implemented corn laws to protect its domestic agriculture by imposing high tariffs on imported grains in 1815. The landlords benefited from corn laws, but this caused widespread difficulty among the working class. Corn Anti-Corn Law League led by Richard Cobden and John Bright successfully raised public opinions against tariffs.
Meline Tariff (1892)
French Prime Minister Jules Meline started the Meline tariff in 1892 to mount the country’s agriculture and industry with foreign competition. Tariff enhanced the levy on imported grains, resulting in more expensive food for consumers as well as more prices for domestic farmers.
Smut-Holly Tariffs (1930)
During the Great Depression, President Herbert Hoover signed the Smut-Hole Act in June 1930. The Act increased duties on a wide range of goods, to help American farmers. The move inspired vengeful measures from countries such as Canada, France and Spain, leading to a sharp decline in global trade.
Anglo-Irish Trade War (1932-1938)
In 1932, tension between Britain and Ireland increased. Britain put high tariffs on Irish agricultural exports, especially cattle, made an important hit for Ireland’s economy. Ireland retaliated with duties on British coal and goods. The six -year dispute made trade tense and spoiled economic difficulties. Later, the disposal of 1938 restored trade relations.
The Chicken War (1960s)
After World War II, American chicken production skyrocketed and flooded European markets with cheap hen. European farmers struggled to compete, urged their governments to protect. In response, the European Economic Community (EEC) imposed tariffs on US poultry imports in 1962.
Lumber War with Canada (1982-current)
The US-Canada softwood wood dispute has been over four decades. The United States claims that the Canadian government controlled pricing system was an improper subsidy. This disagreement has given rise to many tariffs and anti -retaliation measures affecting trade relations between the two countries.
US-Japan Auto Tariff (1987)
President Ronald Reagan imposed 100% tariff on Japanese goods worth $ 300 million in 1987, mainly targeted the motor vehicle area. The move aims to punish Japan to fail to follow a semiconductor trade agreement designed to increase the access to American companies in the Japanese market.
Banana War (1993-2012)
In 1993, the European Union imposed tariffs on Latin American bananas in favor of producers of Caribbean and its former colonies in Africa. The US challenged the European Union works in the World Trade Organization (WTO) several times, achieving favorable regions every time. When the European Union refused to lift the sanctions, the US retaliated by putting tariffs on European luxury goods including Scottish Kashmiri and French Paneer. This trade dispute dragged the “Banana War” for nearly two decades and ended in 2012.
Steel War with Europe (2002)
President George W. Bush imposed tariffs from 8% to 30% on imported steel in 2002 to protect the struggling US steel industry. In response, the European Union threatened tariffs on US goods worth $ 2.2 billion, inspiring Bush to lift the tariff in 2003.
Trump’s Trade War (2018)
In his first term, Donald Trump put extensive tariffs on solar panels and washing machines, followed by targeted tariffs on sugar imports. In vengeance, China imposed tariffs on American agricultural products.