xfp
Joined 1 year ago
Joined 1 year ago
Wikipedia's articles on Smoot–Hawley and the Tariff of Abominations both have sections on their effects.
In short, we'll see a brief rise in the domestic economy, then a sharp recession. One of the reasons SE Asia, BRICS, and the EU have been so active to disconnect themselves from the U.S. is they don't want to get caught up in the U.S. economic failure like they did in the 1930s.
Tariffs are theoretically supposed to encourage domestic production, but rely on the false premise that all raw and intermediate materials can be sourced domestically at a cost below the import price. That has generally proven to not work unless tariffs are in the hundreds of percent. But at that level, import taxes tend to poison entire sectors due to supply lag instead of drive domestic economies.
1. be rescinded/paused in [0,2) days;
2. be rescinded/paused in [2,4) days;
3. be rescinded/paused in [4,7] days;
4. not be rescinded/paused.
They seem to be fairly common with packages of jerky and other self-stable cured meats.
(This is not to say dessicant packets aren't used in food, just that not all of those packets are dessicants)