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Trump's Tariffs Threaten Small Businesses, Risking Recession

4/21/2025

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Summary

Story summary

President Trump's staggering tariffs, soaring as high as 145%, are wreaking havoc on small businesses in Oregon and Georgia. Owners grapple with soaring prices and disrupted supply chains, sparking fears of closures. Economists caution that if these tariffs persist, they could plunge the economy into recession, threatening the backbone of American commerce.

History

Historical Context

President Trump's tariffs, reaching up to 145%, echo historical protectionist policies like the Smoot-Hawley Tariff of 1930, which worsened the Great Depression by stifling trade. Historically, high tariffs aimed to protect domestic industries but often led to retaliatory measures, disrupting supply chains and threatening economic stability, as seen in past U.S. trade policies from the 19th century to the present.

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Story summary

President Trump's staggering tariffs, soaring as high as 145%, are wreaking havoc on small businesses in Oregon and Georgia. Owners grapple with soaring prices and disrupted supply chains, sparking fears of closures. Economists caution that if these tariffs persist, they could plunge the economy into recession, threatening the backbone of American commerce.

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