Have you ever thought that the idea of using tariffs to protect local businesses was something new that President Trump invented? Well, it’s not! The practice goes back a long way. In 1904, Canada was the first to create a special law to stop unfair trade practices called anti-dumping laws. Then, in 1921, countries like the UK and the US started using anti-dumping duties, which are a type of tariff. This means they added extra taxes on imports to help local companies compete. So, it’s clear that using tariffs to protect domestic industries has been around for a while!
Now, let’s connect this to today’s markets: always remember that with taking risks, there’s a chance for reward. Just keep that in mind as you think about investments!
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