U.S. Tariffs: A History of Policy and Unintended Consequences

The provided sources offer a comprehensive historical overview of U.S. tariff policy, tracing its evolution from the nation's founding to the present day. They categorize this history into distinct periods: the early republic, where tariffs primarily generated revenue and sparked sectional strife like the Nullification Crisis; the Gilded Age, characterized by high protectionism and notable acts like the McKinley and Dingley Tariffs; and the post-World War II era, which saw a shift towards reciprocal trade agreements and more targeted protectionist measures, often justified by national security concerns. The text highlights recurring themes such as the tension between revenue generation and industrial protection, the tendency of tariffs to provoke international retaliation and unintended consequences, and the powerful political economy of concentrated benefits overriding diffuse costs. Ultimately, the sources illustrate that while specific applications of tariffs have changed, the fundamental debates surrounding them persist.

Research done with the help of artificial intelligence, and presented by two AI-generated hosts.