Rauchway argues that the former president's nostalgic view of Gilded Age protectionism fails to acknowledge historical consequences, notably the severe depression of the 1890s.
Historically, Republicans have advocated high tariffs not primarily for revenue, but for protection, which led to negative economic impacts not understood by current leaders.
The deep nostalgia for tariffs in Trump's rhetoric overlooks the struggles that resulted from such policies, revealing a disconnect from crucial historical lessons.
Rauchway provides insights into how past tariff policies created imbalances, pushing domestic prices up and limiting the competitive edge of U.S. manufacturers.
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