https://www.taxtmi.com/news?id=36807 President Trump promotes reinstating high tariffs and broad "reciprocal" import levies to bolster federal receipts and protect domestic manufacturing, citing late 19th century tariff-era surpluses. The article contrasts that premise with the Gilded Age's concentrated wealth, political capture by industrialists, inflationary pressures from tariffs, deflationary spells linked to shrinking money supply, and the Panic of 1893. It emphasizes that modern supply chains and cross-border inputs make contemporary tariff effects materially different, and notes that historical figures like McKinley later shifted toward reciprocity to sustain export markets. en-us Mon, 10 Mar 2025 17:31:02 +0530 Mon, 10 Mar 2025 17:31:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=36807 President Trump promotes reinstating high tariffs and broad "reciprocal" import levies to bolster federal receipts and protect domestic manufacturing, citing late 19th century tariff-era surpluses. The article contrasts that premise with the Gilded Age's concentrated wealth, political capture by industrialists, inflationary pressures from tariffs, deflationary spells linked to shrinking money supply, and the Panic of 1893. It emphasizes that modern supply chains and cross-border inputs make contemporary tariff effects materially different, and notes that historical figures like McKinley later shifted toward reciprocity to sustain export markets. News - Mon, 10 Mar 2025 17:31:02 +0530 https://www.taxtmi.com/news?id=36807