President Trump's latest tariffs have been dubbed a trade war in the media. The tariffs are different for different countries based on what can be called trade policy multipliers. The EU received 20 percent. The last time US import tariffs were at this level was in the first half of the 1930s. Economic history is largely unanimous that the tariffs and the subsequent countermeasures by other countries deepened the depression of the 1930s. The operating environment is deteriorating A statement from the Finnish Forest Industries Federation states that the tariffs mean a significant deterioration in the ...
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