It is readily apparent that businesses in Iowa Falls, Hardin County and the State of Iowa are not benefiting from U.S. President Donald Trump’s initiation of tariffs against China. Trump’s impulsive move to place tariffs on Chinese imports to the United States has resulted in China’s retaliation of tariffs against the importation of American corn and soybeans. This tit-for-tat squabble has been particularly harsh on Midwest farmers. Iowa leads the nation in corn production while Illinois is the country’s top soybean producer.
Back during the 1920s tariffs were a big thing and under the hands-off leadership of President Calvin Coolidge (president 1923 to 1929) the wide open markets and the laisez-faire attitudes of the Roaring Twenties ultimately brought on the Great Depression of the 1930s. Iowa’s Herbert Hoover became president in January 1929, but he was unable to prevent the stock market crash in October of 1929.