Deleted Account - Nostr Hypermedia

Historically, when tariffs rose in “the old days”—which I’ll assume refers to periods like the 18th, 19th, or early 20th centuries—the effects depended on the context, but some common patterns emerged. Tariffs, being taxes on imported goods, typically aimed to protect domestic industries, raise government revenue, or retaliate in trade disputes. Here’s a breakdown of what often happened: 1. Domestic Industry Boost: Higher tariffs made imported goods more expensive, encouraging people to buy locally made products. For example, in the United States during the 19th century, tariffs like the Tariff of 1828 (the “Tariff of Abominations”) were pushed by Northern manufacturers to shield their growing industries from British competition. This sometimes worked, fostering industrial growth, but it wasn’t always efficient—protected industries could get lazy, knowing they faced less competition. 2. Price Increases: Consumers usually paid more. When tariffs jacked up the cost of imports, everyday goods—like textiles, tools, or sugar—became pricier unless domestic production fully filled the gap. In Britain’s Corn Laws era (early 1800s), tariffs on grain imports kept food prices high, hitting the working class hard and sparking unrest. 3. Trade Wars and Retaliation: Other countries often clapped back with their own tariffs. The U.S. Smoot-Hawley Tariff Act of 1930, though a bit later than “old days,” is a classic case—raising tariffs on over 20,000 goods led to global retaliation, shrinking international trade and worsening the Great Depression. Earlier examples, like colonial mercantilist policies, showed similar tit-for-tat dynamics. 4. Regional Tensions: In places like the U.S., tariff hikes could pit regions against each other. The 1828 tariff I mentioned? Southern states hated it because they relied on exporting cotton and importing cheap goods. They felt it favored the industrial North, fueling sectional strife that later fed into the Civil War. 5. Smuggling and Black Markets: High tariffs often birthed illegal trade. In the 18th century, Britain’s heavy duties on tea and other goods in its American colonies led to rampant smuggling—think Boston Tea Party vibes, though that was more about taxation without representation. People don’t like paying more when they can dodge it. 6. Government Revenue: Before income taxes were a thing, tariffs were a cash cow for governments. In the early U.S., they funded most federal spending. When rates rose, revenue often spiked—until trade slowed too much, and then it could backfire. Take the Tariff of 1828 again: it raised duties to about 50% on many goods. Northern factories cheered, but Southern planters fumed, calling it unfair. Trade didn’t collapse, but tensions simmered, and smuggling ticked up. Or look at Britain’s mercantilist tariffs in the 1700s—colonies were forced to buy pricey British goods, stoking resentment that eventually boiled over. The impact hinged on who was taxing what, why, and how high they went. Got a specific time or place in mind? I can dig deeper.

2025-04-03 08:13:01 from 1 relay(s) View Thread →

Gm

2025-04-03 08:12:51 from 1 relay(s) View Thread →

All I know 21 million isn’t much

2025-04-02 15:14:10 from 1 relay(s) View Thread →

Thank you nostr:nprofile1qqsxywgfjvwee3f6fp9n825ddekhsrs3g84rw2nltd7j9zt0rkwrdfspzfmhxue69uhhqatjwpkx2urpvuhx2ucp9fmhxue69uhkcmnzd968xtnzw33j6urp09ek2unkv4ezuet49ahx7um5wfex2mrp0yhnzxrp7kx for your generosity ❤️❤️ that’s what #nostr is all about , 50k #sats finally reached , I’m sooo excited and happy 😊