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1 week ago
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Source: AFP
As the satellite reels from US President Donald Trump's tariffs onslaught, present is simply a look backmost astatine immoderate large commercialized wars since the 19th century:
19th period Opium Wars
In the mid-19th century, 2 conflicts implicit the opium trade, which became known arsenic the Opium Wars, pitted China against the British Empire.
The archetypal began successful 1839, erstwhile Britain launched a subject expedition to unit China to unfastened its marketplace to Indian opium sold by British merchants.
Britain won the clash successful 1842, with occurrence going beyond opium arsenic China was forced to springiness up the portion of Hong Kong, unfastened 5 ports to satellite trade, and bounds its customs tariffs to 5 percent.
In the 2nd Opium War, from 1856-1860, Britain allied with France, and again the imperial powerfulness came retired connected top, forcing China to unfastened up eleven further ports to overseas commercialized and support diplomatic relations with the West.
1890: McKinley violative
In 1890, William McKinley -- past a Republican lawmaker, aboriginal a US president -- saw done a caller instrumentality that slapped an mean tariff of astir 50 percent connected imports into America.
While the taxation hike boosted the improvement of tinplate accumulation successful the US, for example, it besides caused prices to soar.
In elections that aforesaid twelvemonth for the US House of Representatives, Republicans suffered large losses, losing their bulk to the Democrats. Two years later, the incumbent Republic president was dumped by voters successful favour of a Democrat.
McKinley's unpopular instrumentality was repealed successful 1894.
He nevertheless went connected to go US president successful 1897. He was assassinated successful 1901, months aft winning a 2nd term.
Trump often mentions arsenic McKinley arsenic inspiration his protectionist policies.
1930: Smoot–Hawley Act
The Smoot-Hawley Act, named aft the 2 US politicians down it, imposed tariffs of astir 60 percent connected implicit 20,000 imported cultivation and concern products.
Trade partners, led by Canada, retaliated with taxes connected US exports, which fell by much than 61 percent betwixt 1929 and 1933.
1960s: Chicken warfare
In the aboriginal 1960s, France and Germany jointly decided to taxation the import of US chicken, produced astatine concern scale.
The United States retaliated with taxes connected a bid of products, peculiarly connected definite inferior vehicles, which stay taxed to this day.
The alleged Chicken War ran from 1961 to 1964.
1985: Pasta warfare
This quality began successful 1985 erstwhile president Ronald Reagan, successful a bid to support US industry, raised tariffs connected pasta imports from Europe .
Europe responded with taxes connected US imports of nuts and lemons.
The standoff lasted 9 months earlier the United States and the European Economic Community (EEC) -- arsenic the EU was past known -- reached an agreement.
1989-2009: Beef hormone quality
In 1989, the EEC banned imports of beef treated with maturation hormones.
After challenging the measurement astatine the World Trade Organization (WTO), which ruled successful their favour, the United States and Canada, the countries astir affected, imposed 100-percent tariffs successful 1999 connected a scope of European goods, from French Roquefort food to Italian truffles.
In a compromise woody inked successful 2009, these taxes were yet suspended, and European import quotas for high-quality, hormone-free beef were gradually increased, starring to a last statement successful 2019.
1993–2012: Banana warfare
In 1993, the EU granted preferential customs regimes to the erstwhile European colonies successful Africa, the Caribbean and the Pacific, to the detriment of bananas produced by US multinationals successful Latin American countries.
These countries filed a ailment with the WTO, which condemned the EU respective times, and Latin American countries were authorised to use retaliatory measures.
An statement was signed successful 2012, allowing for a simplification successful import tariffs connected bananas from 11 Latin American countries and the extremity of actions taken by these countries against the EU.
2002: Bush vs. EU
In 2002, US President George W. Bush imposed three-year surcharges of up to 30 percent connected 10 categories of products including flat-rolled steel, instrumentality wires and welded tubes.
These measures, intended to boost the US alloy industry, affected astir 29 percent of imports.
The EU filed a ailment with the WTO and published a database of US products it threatened to taxation by up to 100 percent.
At the extremity of 2003, Bush opted to assistance the tariffs.
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Source: AFP
