The history behind Trump's love of tariffs

Plus: the debate that gave us the Electoral College |

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By Made by History / Produced by Olivia B. Waxman Donald Trump's love of tariffs has confused his political opponents as well as many economists, who point out the policy's potentially ruinous effects on inflation and trade wars. But as Bruce J. Schulman writes in Made by History, tariffs are not just an economic policy platform, but a set of political and rhetorical tools.  Indeed, tariffs played a key role in the development of the Republican Party from the 1860s until the Cold War. Protectionism appealed not only to Gilded Age capitalists, but also to organized labor, veterans and their families, and diverse groups across regional divides. After World War II, Republican leaders softened their pro-tariff stance, embracing tenets of freer trade. But Trump's lionization of tariffs reflects his broader argument that the U.S. is a nation besieged from enemies external and within. In this, he is not employing an economic strategy, but a political one.

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FROM THE TIME VAULT This week in 1982: PACs Doug Taylor The Oct. 25, 1982, cover of TIME “There is nothing inherently evil about PACs: they are merely campaign committees established by organizations of like-minded individuals to raise money for political purposes, a valid aspect of the democratic process. In the wake of Watergate, Congress amended the federal election laws in 1974 to limit the role of wealthy contributors and end secretive payoffs by corporations and unions. The new law formalized the role of PACs, which were supposed to provide a well-regulated channel for individuals to get together and support candidates. But as with many well-intended reforms, there were unintended consequences. Instead of solving the problem of campaign financing, PACs became the problem. They proliferated beyond any expectation, pouring far more money into campaigns than ever before. Today the power of PACs threatens to undermine America’s system of representative democracy.” Read More » This week in 1990: Wynton Marsalis Ted Thai The Oct. 22, 1990, cover of TIME “In short, in the 11 years since he launched his professional career, Marsalis, who turns 29 this week, has become a full-fledged superstar. But the most significant thing about Marsalis’ career is not his personal success. It is the fact that, largely under his influence, a jazz renaissance is flowering on what was once barren soil. Straight-ahead jazz music almost died in the 1970s as record companies embraced the electronically enhanced jazz-pop amalgam known as fusion. Now a whole generation of prodigiously talented young musicians is going back to the roots, using acoustic instruments, playing recognizable tunes and studying the styles of earlier jazzmen, from King Oliver and Louis Armstrong to Duke Ellington, Charlie Parker and John Coltrane. Moreover, with major record labels rushing to sign them up, many of these so-called neotraditionalists are starting to enjoy commercial success, and some are on the road to real wealth.” Read More » This week in 2006: Barack Obama Barack Obama The Oct. 23, 2006, cover of TIME "‘There’s a core decency to the American people that doesn’t get enough attention,’ he said, sitting in his downtown Chicago office, casually dressed in jeans and a dark blue shirt. ‘Figures like Oprah, Tiger, Michael Jordan give people a shortcut to express their better instincts. You can be cynical about this. You can say, It’s easy to love Oprah. It’s harder to embrace the idea of putting more resources into opportunities for young black men–some of whom aren’t so lovable. But I don’t feel that way. I think it’s healthy, a good instinct. I just don’t want it to stop with Oprah. I’d rather say, If you feel good about me, there’s a whole lot of young men out there who could be me if given the chance.’” Read More »

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