Did tariffs contribute to the Great Depression? Here's what to know
Did tariffs contribute to the Great Depression? Here's what to know
- March 6, 2025
- Gary Richardson, economics, NPR, March 6, 2025
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While the U.S. has imposed tariffs on some imported goods since the late 1700s, did tariffs cause the Great Depression? "Certainly not," says Gary Richardson, economics professor at the University of California, Irvine and former historian of the Federal Reserve System. "The depression started when tariffs were low. So the tariffs or the thought of having tariffs were not a cause of the Great Depression," Richardson tells NPR.
For the full story, please visit https://www.npr.org/2025/03/06/nx-s1-5318076/tariffs-great-depression-explainer.
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