Prompt Cast
"From Wool to Trump: The Persistent Echoes of Protectionism in America's Economy"
Generated on February 24, 2026
TLDR Planet Money revisits historic tariffs and critiques modern ones that echo the economic disaster of the past by burdening consumers more than helping domestic farmers, with economists predicting a negative impact similar to Smoot-Hawley Tariff era. Meanwhile, listeners can enjoy special NPR+ offers for their continued support in these podcast episodes exploring how tariffs shape our economy and history.
Timestamped Summary
00:00
The Planet Money episode discusses various economic topics through engaging stories while also highlighting a special NPR+ offer for listeners.
03:49
The episode revisits and critiques past tariff policies, notably Smoot-Hawley, using engaging stories while also previewing Trump's proposed new tariffs.
07:38
Economic prosperity masked agricultural struggles, leading to tariffs on wool and sugar as a political tool for the forgotten farmers.
10:56
Amidst widespread industry demands for protectionist tariffs, Congress passed over 800 such measures during a time when some industries had minimal foreign competition.
14:23
Economists predicted disaster from Smoot-Hawley tariffs as they sparked retaliation and reduced global trade amidst pre-existing economic instability.
17:49
Economists predicted disaster from Smoot-Hawley tariffs as they sparked retaliation and reduced global trade amidst pre-existing economic instability.
21:27
Economists decry modern targeted "national security" tariffs for causing economic harm akin to the Smoot-Hawley Tariff disaster.
24:57
Economists warn that current and proposed tariffs could harm the U.S. economy similarly to historical precedents like Smoot-Hawley Tariff, with evidence showing consumers bear most costs without benefiting local producers enough to offset them.
