Checking the extract from Wikipedia on the last tariff war, we recall Smoot - Hawley Tariff Act, however, this extract doesn't show lots of optimism from the outcome. In the balance, the technological and economic landscape between 1930 and 2025 is infinitely large moving from more agricultural and oil/gas based economy to a more robust technological economy driven by impact of AI.
The question is; does the indication of the past on mark-up on the graph, gives an indication where the current tariff war is headed? Where are the markets headed especially investments as New York Time announces worst month in years according the article: https://www.nytimes.com/2025/03/30/business/stocks-nikkei-sp500.html
See extract of the effects of the trade war of 1930:
"The economic depression worsened for workers and farmers despite Smoot and Hawley's promises of prosperity from high tariffs. Consequently, Hawley lost re-nomination, while Smoot was one of 12 Republican senators who lost their seats in the 1932 elections, with the swing being the largest in Senate history, being equaled in 1958 and 1980.[16] Nations other than Canada that enacted retaliatory tariffs included Cuba, Mexico, France, Italy, Spain, Argentina, Australia, New Zealand, and Switzerland.[14]"
Full article: https://en.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Act
I believe the tides can be turned around with the intervening organizations to avoid perennial consequences to developing economies, early stage investors and the future of trade in the mid/long term. Something is changing but if not resolved quickly, then we can live with it for a long term.
