Changes

Tariffs have long been seen as part of the normal operation of business. For most of history, tariffs were high, often leading to global trade involving a relatively small percentage of goods. In the 19th century, increasingly tariffs were slowly reduced in Europe and North America, but from the late 19th century the US had some of the highest tariffs among the major powers. This trend continued until after World War II. Since that time, low tariffs across the globalized economy have been seen as a key way to foster a more integrated economic system and one that could promote peace through closer trade cooperation.  However, there has been a lot of controversy around this, as increasingly globalized trade is seen as producing environmental harm, weakening manufacturing in some countries, and some see it as having forced some countries to conform to a single global economic order that not all agree with. [[Category:Wikis]] [[Category:Economic History]] [[Category:United States History]] [[Category: European History]]