date:Dec 20, 2018
of infancy.
Yet all these tariffs, including the infamous Smoot-Hawley tariff passed that same year, had a perverse consequence. As the United States Tariff Commission would conclude a few years later, protective tariffs ended up hurting, not helping, the domestic producers.
The reason lay with the fact that the excessive production of sugar outside the mainland U.S. was so enormous that, when faced with tariff barriers, producers like Cuba cut labor costs even as they maintained high levels