Last week we saw in this column the five tariffs that are studied from Spain in the contemporary age: the Figuerola, of 1869; Cánovas del Castillo, 1981; Amós Salvador, 1906; Cambó, 1922; and Ullastres, 1963. They were the result of the pressure of Spanish, liberal or protectionist interests.
Now, the world tariff movement is experiencing the Tsunami Trump, in the idea uses to impose almost manu militari tariffs from 25 percent to Mexico and Canada. Both countries that, with the US themselves, integrate the North American Free Trade Agreement (NAFTA since 1988, or NAFTA), which has been broken virtually broken with the Trumpiana window.
What the US of Trump does is replace high import rights where there were no longer, because a free trade zone was created: a nonsense for many economic studies that could have been done to anticipate the effects of that tariff resurgence In North America. With expected reprisals from Canada (which Trump intends to become the US state 51) and Mexico.
The same could happen with the Chinese products imported in the US, which in the future would be taxed with 10 percent: a climb with the expected reciprocal from China to the US. It remains to be known what will happen in the relationship of USA with the European Union, which could be something similar to what was done with NAFTA and with China.
Since 1945 we worked to achieve a freer world trade, with great job creation. That work of decades was made within the GATT (General Agreement on Tariffs and Trade), and from 1985 in the World Trade Organization (WTO). All that work could be destroyed.
Who will pay the broken dishes? All, starting with the US themselves, although it is true that there will be negotiations to rebuild a new situation.