General Discussion
In reply to the discussion: Offshoring: Should America be impoverished in order to help other populations become better off? [View all]Sen. Walter Sobchak
(8,692 posts)The US has decisively lost every major trade war we have ever fought. Most recently W's steel nonsense steel tariffs of 2002-2003.
In direct retaliation to the Smoot Hawley tariffs The UK imposed a 100% tariff on US exports. Spain imposed a 150% tariff on US automobiles. The French and Swiss shut-out US goods entirely and Canada scorched earth on agriculture. Other nations retaliated in other ways but in whole the rest of the world ceased trading with the United States.
The problem with launching mercantilist trade wars in the modern age is there aren't very many goods that you can only get in one place, the rules of the fur trade and silk trade don't really apply anymore. If one country imposes preposterous trade barriers the rest of the world will just take their business elsewhere.
And the US does have tariffs on a great many imports from those nations we do not have free trade agreements with or are otherwise tariff free by way of the WTO. The purpose of these tariffs is not however to be massively punitive.