A 1960s ‘Chicken War’ is partly responsible for the boom of American pickup trucks.
The US slapped tariffs on German-made trucks in retaliation for similar taxes on American frozen chicken. The tax on trucks still hasn’t been lifted.
The tariff helped US automakers dominate that segment of the market, said Albert Edwards, a strategist at Société Générale.
Tariffs are not always bad news.
The US is in a tit-for-tat trade spat with China and other trading partners, imposing taxes on billions of dollars worth of their imported products to achieve what it considers fairer terms of trade. See the rest of the story at Business Insider
ALBERT EDWARDS: US-China tensions are distracting from a far more catastrophic trade war threatening to break outJPMorgan identifies a ‘catch-all trade’ that will profit from the biggest issues confronting investors — including a trade war‘No one wins from a trade war’ — A $2.5 billion portfolio manager explains why markets could plunge further into chaos if Trump’s standoff continues
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