Germany before World War I provoked backlash because of its rise in exports and overproduction, similar to China today.
Reciprocal tariffs initially spooked investors a year ago. Tariff rates and policies, however, have changed over time, and businesses have adapted. However, there's still the risk that tariffs could ...
Trump's tariff increases have a historical precedent. After the stock market crash of 1929, the US significantly increased tariffs, triggering a trade war and deepening the Great Depression.