Tariff War Risks Sinking World Into New Great Depression

SOURCE www.wsj.com
The International Chamber of Commerce warns that the world could face a crash similar to the Great Depression of the 1930s if the U.S. imposes steep tariffs on imports, leading to a damaging global recession.

Key Points

  • U.S. plans to impose steep tariffs on imports could lead to a global economic crash
  • High tariffs in the 1930s contributed to a damaging global recession and high unemployment rates
  • The International Chamber of Commerce warns of a potential downward spiral similar to the 1930s trade-war territory