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"Trade war" is not a term most people are familiar with, but it basically amounts to the U.S. and, say, China slapping ever-higher tariffs on goods coming from the other country, causing markets to plummet and the global economy to slow.
"Actually we were looking for higher tariffs.
Propbably because lower tariffs are subsidised by higher tariffs and if those higher tariffs disappear, then the lower tariffs must rise.
The higher tariffs have led some advertisers to desert.
Higher tariffs at rush hour would also be welcome.
Many have argued for higher tariffs to protect local farmers.
Higher tariffs will be cut more than lower ones.
The US Smoot-Hawley tariff of 1930 is blamed for turning the Wall Street crash of 1929 into capitalism's worst-ever depression - up until now, at least - but the American Paul Krugman has shown that this was a statistical impossibility, and that the immense contraction in the economy between 1929 and 1932 could not have been the result of higher tariffs.
UNEMPLOYMENT is creeping ever higher.
"High fuel prices are increasing costs and recovering them through higher tariffs may affect demand.
The coalition had requested much higher tariffs than the government imposed.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com