Podcasts about smoot hawley tariff

The 1920s and the 2020s share a special kinship. One hundred years ago, the U.S. was grappling with a mix of growth, technological splendor, and generational anxiety—a familiar cocktail (albeit, from an era where cocktails were illegal). The era's young people felt uniquely besieged by global forces. “My whole generation is restless," F. Scott Fitzgerald wrote in This Side of Paradise. “A new generation dedicated more than the last to the fear of poverty and the worship of success; grown up to find all Gods dead, all wars fought, all faiths in man shaken." America was changing. And change always implies a kind of loss. We were moving toward cars and cities and manufacturing. And that meant we were moving away from horses and farmland and agriculture. And so, in 1930, just months into the Great Depression, Herbert Hoover signed a new piece of legislation to restore farmers to their previous glory. It was a great big tariff—the Smoot-Hawley Tariff. Rather than save the economy, it deepened the depression. Today, the Smoot-Hawley Tariff is one of the most infamous failures in the history of American politics. To suggest that it holds lessons for this moment in history is to state the obvious. Our guest is Douglas Irwin, an economist and historian at Dartmouth University and an expert on the economic debates of the Great Depression. We talk about the economic motivations of the Smoot-Hawley tariff, the congressional debates that shaped it, the president who signed it, and the legacy it left. We talk about the economic instinct to preserve the past—an instinct that has never gone away in American history—and the profound irony, that some efforts to return America to its former glory can have the unintended effect of robbing America of a richer future. If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com. Host: Derek Thompson Guest: Douglas Irwin Producer: Devon Baroldi Learn more about your ad choices. Visit podcastchoices.com/adchoices

(02:13) Deze week kondigde Trump nieuwe importheffingen aan. Zijn beleid grijpt terug op de zogenoemde Smoot-Hawley Tariff Act uit 1930. Wat hield die act in en is er een les uit te trekken voor de maatregelen van Trump nu? Amerikanist Casper Thomas is te gast.  (14:33) Sanne Frequin bespreekt drie historische boeken:  De geboorte van de stad - Erik Schmitz e.a.  Geschrapt, uitgegomd, gewist – Titiou Lecoq    Het verdriet van Elisabeth van Culemborg - Wijnand W. Mijnhardt (25:01) De column van Abdelkader Benali  (28:35) Over de rand laait vuur is het nieuwe boek van historicus Chris van der Heijden over het leven van zijn omstreden ouders. Zijn vader was lid van de SS, vocht aan het Oostfront en was commandant van de beruchte Landwacht, zijn moeder was lid van de NSB en een fanatieke nationalist. Van der Heijden is te gast.  Meer info: https://www.vpro.nl/programmas/ovt/luister/afleveringen/2025/06-04-2025.html#  (https://www.vpro.nl/programmas/ovt/luister/afleveringen/2025/06-04-2025.html)  

Deze week kondigde Trump de importheffingen aan, voor goederen uit landen die tarieven hebben op Amerikaanse producten. De dag zal volgens de Amerikaans president de boeken ingaan als bevrijdingsdag. Met de importheffingen grijpt Trump terug op de zogenoemde Smoot-Hawley Tariff Act onder president Herbert Hoover, die is begonnen in 1930. Maar wat hield die act in, en wat waren de gevolgen van die verhoogde importtarieven wereldwijd en voor Amerika? En is er een les uit te trekken voor de maatregelen van Trump nu? We vragen het aan Amerikanist Casper Thomas.

Notes from James: I've been seeing a ton of misinformation lately about tariffs and inflation, so I had to set the record straight. People assume tariffs drive prices up across the board, but that's just not how economics works. Inflation happens when money is printed, not when certain goods have price adjustments due to trade policies. I explain why the current tariffs aren't a repeat of the Great Depression-era Smoot-Hawley Tariff, how Trump is using them more strategically, and what it all means for the economy. Also, a personal story: my wife's Cybertruck got keyed in a grocery store parking lot—just for being a Tesla. I get into why people's hatred for Elon Musk is getting out of control. Let me know what you think—and if you learned something new, share this episode with a friend (or send it to an Econ professor who still doesn't get it). Episode Description: James is fired up—and for good reason. People are screaming that tariffs cause inflation, pointing fingers at history like the Smoot-Hawley disaster, but James says, “Hold up—that's a myth!” Are tariffs really bad for the economy? Do they actually cause inflation? Or is this just another economic myth that people repeat without understanding the facts? In this episode, I break down the truth about tariffs—what they really do, how they impact prices, and why the argument that tariffs automatically cause inflation is completely wrong. I also dive into Trump's new tariff policies, the history of U.S. tariffs (hint: they used to fund almost the entire government), and why modern tariffs might be more strategic than ever. If you've ever heard that “tariffs are bad” and wanted to know if that's actually true—or if you just want to understand how trade policies impact your daily life—this is the episode for you. What You'll Learn: Why tariffs don't cause inflation—and what actually does (hint: the Fed's magic wand). How the U.S. ran on tariffs for a century with zero inflation—history lesson incoming! The real deal with Trump's 2025 tariffs on Mexico, Canada, and chips—strategy, not chaos. Why Smoot-Hawley was a depression flop, but today's tariffs are a different beast. How supply and demand keep prices in check, even when tariffs hit. Bonus: James' take on Cybertruck vandals and why he's over the Elon Musk...

In this episode, Tristan breaks down Trump's inconsistent approach to tariffs, comparing the current situation to the disastrous Smoot-Hawley Tariff of 1930 that worsened the Great Depression. Snell analyzes how Trump's tariffs on Canada and Mexico are already creating economic uncertainty, with frequent policy reversals revealing administrative chaos. The episode also explores Europe's strengthening unity in support of Ukraine despite Trump's attempts to weaken NATO alliances, and critiques Trump's address to Congress, highlighting numerous factual inaccuracies about taxes, defense spending, and healthcare.

Just weeks before he was elected president of the United States, during a conversation at the Economic Club of Chicago, Donald Trump declared, “The most beautiful word in the dictionary is ‘tariff.' And it's my favorite word.” As the president-elect takes to the bully pulpit, leaders of nations threatened with new tariffs are calling Trump or even flying down to Mar-a-Lago, as Canadian President Trudeau did recently, to argue their case.  Stanford Law Professor Alan O. Sykes joins Pam and Rich for this episode to help make sense of the fascinating world of trade, tariffs, and the global economy. Al is a leading expert on the application of economics to legal problems whose most recent scholarship is focused on international economic relations. His writing and teaching have encompassed international trade, torts, contracts, insurance, antitrust, international investment law and economic analysis of law. He is the author most recently of the book The Law and Economics of International Trade Agreements. Connect:Episode Transcripts >>> Stanford Legal Podcast WebsiteStanford Legal Podcast >>> LinkedIn PageRich Ford >>>  Twitter/XPam Karlan >>> Stanford Law School PageStanford Law School >>> Twitter/XStanford Lawyer Magazine >>> Twitter/XLinks:Alan O. Sykes >>> Stanford Law page(00:00:00) Chapter 1: Introduction and Explanation of Tariffs Rich Ford and Pam Karlan introduce Professor Alan Sykes, a leading expert in international trade law, to explore the basics of tariffs. They discuss what tariffs are, how they function like a tax on imports, and who ultimately bears the cost. Sykes explains the economic complexities, such as elasticity of demand and supply, and highlights how tariffs impact U.S. consumers and foreign producers.They discuss how tariffs often fail to significantly increase manufacturing jobs and the potential downsides of retaliation and supply chain disruptions.(00:08:36) Chapter 2: Policy Implications and Optimal Tariff Strategies Alan Sykes unpacks the policy decisions behind tariffs, such as balancing national security concerns and economic efficiency. Sykes explains the concept of "optimal tariffs" and critiques proposals like 100% tariffs, arguing for targeted approaches such as subsidies for sensitive industries. The hosts highlight the distinction between product-specific measures and country-focused tariffs in maintaining supply chain resilience. (00:12:28) Chapter 3: The Evolution of U.S. Free Trade Policy The group explores the post-World War II consensus around free trade and how it has shifted in recent years. Alan Sykes outlines bipartisan changes to U.S. trade policy, the impact of the "China shock," and the shift towards an "America First" approach under both Trump and Biden administrations.(00:16:43) Chapter 4: Tariffs, Trade Wars, and Public Misunderstandings The discussion delves into the politics of tariffs and their economic implications. Alan Sykes explains why tariffs remain politically popular despite their economic inefficiency, the mechanics of trade wars, and the historical example of the Smoot-Hawley Tariff. They also discuss how tariffs and retaliation, such as restrictions on rare earth elements, could affect U.S. industries.(00:23:26) Chapter 5: Multilateral Trade Agreements and National Security Alan Sykes traces the history of multilateral trade institutions, focusing on the GATT, WTO, and USMCA. Sykes explains the U.S.'s recent retreat from WTO commitments, the renegotiation of NAFTA, and the controversial use of national security clauses to justify tariffs and sanctions. The conversation closes with insights on the implications of these shifts for allies and adversaries alike.

It's the home stretch, and something we haven't touched on enough is Trump's love affair with Tariffs. In this episode Rick sits down with Edward Goldberg, an adjunct professor at NYU's Center for Global Affairs and expert on political economy and trade. Together, they explore the dangers of Donald Trump's proposed tariffs and the broader risks of economic isolationism. Goldberg draws historical parallels, such as China's decision to burn its fleet in 1433 and the Smoot-Hawley Tariff of 1929, to demonstrate the economic consequences of shutting down global trade. They also discuss the misconceptions around globalization, its connection to job loss, and the vital role of immigration and open trade in driving American innovation and prosperity. And to cap things off, Rick rants about the horror show at Madison Square Garden. Timestamps: (00:01:33) The stakes for the global economy (00:06:38) What happens if we shut the doors (00:13:06) The age of human knowledge Follow Resolute Square: Instagram Twitter TikTok Find out more at Resolute Square Learn more about your ad choices. Visit megaphone.fm/adchoices

Worst team up in the history of trade.

Can anyone tell me what this podcast is about? Anyone?

Alex Merced discusses why Tariffs are bad policy and should be avoided by looking at the Great Depression and the effect of the Smoot Hawley Tariffs. Learn more at AlexMerced.com and become a supporter at Patreon.com/AlexMerced --- Support this podcast: https://anchor.fm/alexmerced/support

You may know his tariff, but not him.  A look at the man behind the Smoot-Hawley Tariff.  Reed Smoot, Senator from Utah.  His history, his politics, his views on tariffs.  His battles for a mix of conservative issues and progressive stands.  And his battle to keep his own seat from religious intolerance.   Plus a discussion on tariffs in history and the variety of different historical figures who have positive and negative views of tariffs.  

Keynes and Bown speak with Douglas Irwin (PIIE and Dartmouth College) about popular misconceptions around the Smoot-Hawley Tariff Act of 1930, the Great Depression, and the global trade wars that ensued. They discuss how the...

Keynes and Bown speak with Douglas Irwin (PIIE and Dartmouth College) about popular misconceptions around the Smoot-Hawley Tariff Act of 1930, the Great Depression, and the global trade wars that ensued. They discuss how the...

Keynes and Bown speak with Douglas Irwin (PIIE and Dartmouth College) about popular misconceptions around the Smoot-Hawley Tariff Act of 1930, the Great Depression, and the global trade wars that ensued. They discuss how the...

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Douglas Irwin, professor of economics at Dartmouth College and author of Free Trade Under Fire (Princeton University Press, 2015), joins the show to discuss the economic arguments for free trade and the reasons for the heated politics surrounding trade. He describes the history of U.S. trade policy from the Embargo Act of 1808 to the Smoot-Hawley Tariff of 1930 to the North American Free Trade Agreement (NAFTA). Finally, he and David discuss the role of the inter-war gold standard during the Great Depression. [To learn more about the upcoming conference, Monetary Rules for a Post-Crisis World, co-hosted by the Mercatus Center and the Cato Institute, and register, please click the link below. You can also watch the conference online by clicking the link.] http://mercatus.org/monetaryconference?utm_source=MacroMusingsPodcast&utm_medium=link&utm_campaign=MonetaryRules David’s blog: http://macromarketmusings.blogspot.com/ Douglas Irwin’s homepage: https://www.dartmouth.edu/~dirwin/ David’s Twitter: @davidbeckworth Douglas Irwin’s Twitter: @D_A_Irwin Related links: “The Truth About Trade: What Critics Get Wrong About the Global Economy” (Foreign Affairs) https://www.foreignaffairs.com/articles/2016-06-13/truth-about-trade Free Trade Under Fire (Princeton University Press, fourth edition 2015) https://www.amazon.com/Free-Trade-under-Fire-Fourth/dp/0691166250 “The Welfare Cost of Autarky: Evidence from the Jeffersonian Trade Embargo,” 1807-09. Review of International Economics. http://www.dartmouth.edu/~dirwin/docs/Embargo.pdf “Did France Cause the Great Depression?” (NBER Working Paper) http://www.nber.org/papers/w16350

In this episode, James Caton discusses the classical and inter-war gold standards. James is an economics PhD student at George Mason University. Gold has many qualities that make it an ideal money: It is valuable, scarce, divisible, and easy to transport. It is also easy to verify the value of a given amount of gold: The Old Testament references weights and scales being used to measure gold. Ancient people could verify the purity of the gold by observing its water displacement. Before 1870, only Great Britain was on a gold standard, while gold, silver, and other metals would circulate freely alongside one another throughout the rest of Europe. The classical gold standard began in the wake of the Franco-Prussian War, when the victorious Germany demonetized silver in favour of gold and the rest of Western Europe followed suit (see Caton on the deflation that resulted from the demonetization of silver). America converted to the gold standard in 1879 upon redeeming the Civil War greenbacks for gold. The classical gold standard operated as a fixed exchange rate regime. As England was the center of global finance, the Bank of England held a privileged position whereby other central banks would follow the Bank of England to keep their currencies constant against the Pound Sterling (see Eichengreen and Bordo). This was the case until the First World War. Europe's governments suspended the convertibility of their currencies into gold during the First World War. These governments created a great deal of inflation to finance the war, but they were reluctant to devalue their exchange rates after the war had ended. They wanted to return to their pre-war exchange rates. At this point, the Fed did something crazy: It slashed the US money stock by over 40%, increasing demand for gold, and causing a general deflation. Before 1925, as gold flowed into the United States, the Fed did not increase the monetary base in tandem with the increasing gold stock, thus sterilizing the gold inflows' influence on prices. After 1925, when Europe returned to the gold standard, the Federal Reserve did increase the monetary base alongside the gold stock. The typical Austrian narrative about the Great Depression (see Robbins and Rothbard) blames the Fed for the 1920s inflation that created an unsustainable boom resulting in the eventual crash that became the Great Depression. However, James disagrees with the blame put on the Fed in this story, as the ratio between the base money stock and the gold stock was fairly constant from 1925 to 1929. From 1925, the Bank of England was acting as Europe's central bank, holding most of Europe's gold. This was politically unpalatable for the French, who began hoarding gold in 1927, devaluing the Franc and causing gold to flow into France (see Irwin). Between 1927 and 1932, France went from holding 7% to 27% of the world's monetary gold. The resulting deflation exacerbated the Great Depression. The Bank of England went off gold in 1931, sounding the death knell for the international gold standard. FDR devalued the dollar and outlawed private ownership of gold in 1933, ending what was left of the gold standard. Although this mitigated the ongoing institutional collapse in the American banking sector, the Great Depression continued on until after the Second World War. See also: Irwin and Rustici on the Smoot-Hawley Tariff. James can be found online at his blog, Money, Markets, and Misperceptions, and at the George Mason University website.

Alistair Cooke compares tariffs set on Chinese imports with similar attempts to protect America's home economy with the Smoot-Hawley Tariff during the great depression.

The Smoot-Hawley Tariff Act, which forced foreign automobile manufacturers to build their models for export to America in America, with American parts and labour.