U.S. President Donald Trump talks to reporters from the White House in Washington, U.S., May 14, 2019.
Image Source: 
REUTERS/Carlos Barria

Chad P. Bown (PIIE) and Eva (Yiwen) Zhang (PIIE)

If President Trump follows through with his threat to impose a 25 percent tariff on most of the rest of US imports from China, taxes would go up on a vast array of imported consumer products—and would also raise US tariffs on China to levels similar to those resulting from the Smoot-Hawley Tariff Act of 1930 enacted on the eve of the Great Depression.

Photo Credit: 
REUTERS/Carlos Barria