Tariffs once fueled the US economy, peaking in 1930 with the Smoot-Hawley Act, which slashed global trade by 65%. Once a key revenue source, tariffs gave way to income taxes in 1913, leading to decades of lower trade barriers. Today, US tariffs remain among the lowest worldwide. Learn more about this topic with 1440. Just tap the #linkinbio. | 1440
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Tariffs once fueled the US economy, peaking in 1930 with the Smoot-Hawley Act, which slashed global trade by 65%. Once a key revenue source, tariffs gave way to income taxes in 1913, leading to decades of lower trade barriers. Today, US tariffs remain among the lowest worldwide. Learn more about this topic with 1440. Just tap the #linkinbio. | 1440
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