Republican presidential nominee Donald Trump and running mate J.D. Vance say they will lead America into the future with an economic platform that resembles something from the past. High tariffs were once the mainstay of U.S. economic policy, accounting for the large part of government revenues in the era before the personal income tax. The tariffs, trade barriers, expulsion of migrants, and domestic manufacturing espoused by the Republican ticket might be called an economic nationalism of the populist right. In this episode, historian Phil Magness delves into the fascinating history of American tariffs from the founding through the end of the Second World War.

Recommended reading:

The Problem of the Tariff in American Economic History by Phil Magness