{"id":273197,"date":"2025-04-01T22:57:39","date_gmt":"2025-04-01T22:57:39","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2025\/04\/01\/doug-irwin-bigger-than-smoot-hawley\/"},"modified":"2025-06-25T17:09:00","modified_gmt":"2025-06-25T17:09:00","slug":"doug-irwin-bigger-than-smoot-hawley","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2025\/04\/01\/doug-irwin-bigger-than-smoot-hawley\/","title":{"rendered":"Doug Irwin: \u201c\u2026bigger than Smoot-Hawley\u201d"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-56214\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>From <a href=\"https:\/\/www.bloomberg.com\/news\/features\/2025-03-31\/trump-s-reciprocal-tariffs-risk-us-recession-trade-turmoil\">Bloomberg<\/a>:<\/p>\n<blockquote>\n<p>\u201cThis is going to be much bigger than Smoot-Hawley,\u201d says\u00a0Douglas Irwin, an economic historian at Dartmouth College, who points to both the expected leap in tariff rates and the amount of trade covered as likely to eclipse what happened in 1930. \u201cImports are a much greater share of GDP now than they were back in the early 1930s by a long shot.\u201d Imports of goods and services are 14% of US gross domestic product \u2014 about triple the share they accounted for in 1930.<\/p>\n<\/blockquote>\n<p>A picture of effective tariff rates, now and prospective, from the same article.<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/effectivetariffrate_BBG_1apr25.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-56215\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/effectivetariffrate_BBG_1apr25.png\" alt=\"\" width=\"1200\" height=\"758\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/effectivetariffrate_BBG_1apr25.png 1200w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/effectivetariffrate_BBG_1apr25-300x190.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/effectivetariffrate_BBG_1apr25-1024x647.png 1024w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/effectivetariffrate_BBG_1apr25-768x485.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/04\/effectivetariffrate_BBG_1apr25-624x394.png 624w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/a><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2025\/04\/doug-irwin-bigger-than-smoot-hawley\" title=\"2:52 pm\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2025-04-01T14:52:46-07:00\">April 1, 2025<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2025\/04\/doug-irwin-bigger-than-smoot-hawley\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] From Bloomberg: \u201cThis is going to be much bigger than Smoot-Hawley,\u201d says\u00a0Douglas Irwin, an economic historian at Dartmouth College, who points to both the<\/p>\n","protected":false},"author":1,"featured_media":273198,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/273197"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=273197"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/273197\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/273198"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=273197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=273197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=273197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}