Explore how tariffs work and dig into how their enactment can set off an economic chain reaction that impacts global trade.
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In 1930, in hopes of supporting farms and manufacturing, President Hoover made a bold decision: he approved a sweeping 20% tax on all imported agricultural and industrial goods. But the plan completely backfired, leading exports to fall and global trade to decline. And it wouldn't be the last time a world leader was shocked by a tariff’s consequences. Trace the economic chain reaction of tariffs.
Directed by Avi Ofer.
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View full lesson: https://ed.ted.com/lessons/what-are-tariffs-and-how-do-they-work
Dig deeper with additional resources: https://ed.ted.com/lessons/what-are-tariffs-and-how-do-they-work/digdeeper
Animator's website: https://aviofer.com
Music: https://www.wonderboyaudio.com
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