Zakaria Draws Parallels Between Trump's Tariffs, Failed 1930s Economic Policies
Fareed Zakaria argues that Trump’s tariff policies echo the self-defeating protectionism of the 1930s, driven by nostalgia rather than economic reality. (Video Screenshot)
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Fareed Zakaria says Donald Trump inherited a strong U.S. economy in 2017 but disrupted it with sweeping tariffs, a move he compares to the Smoot-Hawley Tariff Act of 1930.
In a commentary aired Sunday on CNN, Zakaria highlighted historical parallels to the 1920s, noting a similar pattern of robust growth followed by protectionist trade policies.
He said agricultural decline back then fueled populist movements, and the tariffs worsened the Great Depression.
Zakaria argues that the U.S. is again favoring a nostalgic view of manufacturing by imposing broad tariffs that hurt the larger service-based economy.
