Market insights
Rising bond yields and oil prices weigh on sentiment
A key feature of the week was rising government bond yields, particularly in the US and Japan.
When protectionism backfired: The Smoot-Hawley Tariff Act of 1930
Infocus
4 min read
When protectionism backfired: The Smoot-Hawley Tariff Act of 1930
With the Trump administration implementing wide ranging tariffs on US trading partners, it is useful to revisit the Smoot-Hawley Tariff Act, which was passed in 1930 and which was followed by a collapse in US trade and economic activity.