Trade Wars Backfire: A Century of Protectionism Fails

History repeats itself—this time, the U.S. is learning a costly lesson about trade wars. Despite championing globalism for decades, recent protectionist policies have upended markets and sparked debate: Why relive the past?

President Trump's tariff push during his second term erased an estimated $10 trillion in global market value this week alone. Analysts say it’s a throwback to 20th-century tactics that always end badly. Think economic slowdowns, supply chain chaos, and yes, TikTok-worthy inflation memes.

“Protectionism sounds good in speeches, but it’s like ordering fries while pretending salads don’t exist,” says one expert. Tariffs force economies into inefficient corners—like asking a coffee shop to suddenly make cars.

While populist rhetoric thrives, data doesn’t lie: Trade barriers hurt innovation, jack up prices, and strain diplomacy. With the U.S. now reversing its own playbook, young professionals and entrepreneurs are bracing for the ripple effects.

Bottom line? Whether it’s 1930 or 2024, history’s verdict on trade wars is clear: Everyone loses. Stay tuned as we track this economic rollercoaster!

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Historical perspective: US trade wars have generally proved disastrous

cgtn.com