David Clement: Trump is delusional on tariffs, but Canada shouldn't retaliate

Tariffs are taxes paid for by a country's own consumers

In 1930, U.S. Congress passed the Smoot-Hawley Tariff Act, with the hopes of calming the great depression, and to raise more revenue for the federal government. To quote the great Ben Stein in the cult classic Farris Bueller’s Day Off “Did it work? Anyone? Anyone know the effects? It did not work and the U.S. sank deeper into the great depression.”

This piece of economic and film history is relevant because it is the road we are about to tumble down.