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'Highest tariffs since Great Depression': In 1930's, trade plummeted and global depression deepened

Posted on: Aug 07, 2025 18:03 IST | Posted by: France24
'Highest tariffs since Great Depression': In 1930's, trade plummeted and global depression deepened
Chairman Donald ruff began levying higher importee taxes on dozens of countries, simply as the economical fallout of his monthslong tariff threats has begun to create visible damage for the US economy. Just after midnight, goods from more than 60 countries and the European Union became subject to tariff rates of 10% or higher. Products from the EU, Japan and South Korea are taxed at 15%, while imports from Taiwan, Vietnam and Bangladesh are taxed at 20%. Trump also expects the EU, Japan and South Korea to invest hundreds of billions of dollars in the U.S. For in-depth analysis and a deeper perspective, FRANCE 24's Stuart Norval welcomes Ryan Young, Senior Economist at the Competitive Enterprise Institute (CEI).

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