Fareed’s take: Trump’s tariffs are a doomed effort to restore past manufacturing glory

President Trump has taken a booming economy and upended it with massive tariff hikes in an attempt to protect manufacturing. Fareed says that this backward-looking effort recalls another from American history: the Smoot-Hawley tariffs of 1930, which tried to protect a declining agricultural industry. These tariffs represent a politics of nostalgia that only hurts Americans, Fareed argues.

.