-
Two dead in rock spire collapse at Turkey's touristic Cappadocia
-
Does White House ask AI to decide policy? Democrats want the receipts
-
No surprise to Carrick he's still Man Utd manager
-
French businessman Roux de Bezieux takes over 2030 Winter Olympics after leadership turmoil
-
Two dead in rock spire collapse at tourist site in Turkey's Cappadocia
-
Tech jitters pull down Wall Street stocks
-
ECB holds rates steady after Lagarde says to quit early
-
Alaska governor orders probe into election same-name 'spoiler'
-
US economy posts strong growth, inflation stubbornly high in challenge to Trump
-
Gang-plagued Haiti sets election dates for 2027
-
What we know about Spain's deadly train crash
-
Neville warns managers can need sacking 'for their own good' as Carrick fights on
-
ECB chief Lagarde to step down early, triggering succession race
-
French businessman takes over 2030 Winter Olympics amid leadership turmoil
-
'Horrific' Russian drone strike kills 14 at Ukraine train station: Kyiv
-
Russell Brand found monogamy 'difficult', wife tells UK rape trial
-
VW says 'no time to lose' to slash costs after 5.8 billion euro loss
-
Dubai building that saw city's rise from desert due for demolition
-
Australia lead by 100 after Inglis century
-
Duckett's best lifts England to 386-5 in Sri Lanka dead rubber
-
Martin to ride with broken wrist in Malaysian MotoGP practice
-
Stock markets diverge on corporate earnings, tech jitters
-
England forward Toney to stand trial for alleged assault in June 2028
-
'Horrific' Russian drone strike kills 13 at Ukraine train station: Kyiv
-
Warrican's five-wicket haul leads West Indies fightback in Bangladesh Test
-
Maresca braced for another tough test in Brighton repeat
-
Oil majors reap bumper profits as Mideast war drives prices
-
Ukraine says at least 13 killed in Russian attack on train station
-
Christine Lagarde: unifying ECB chief in turbulent times
-
ECB President Christine Lagarde to step down in February 2027
-
Rybakina secures year-end top rank with Tokyo win
-
A year on, Tanzanians mourn election massacres in 'state of terror'
-
Rains bring relief to Indonesian city weary of fire haze
-
Israel piles pressure on Arab parties as Netanyahu seeks government
-
Osaka vows to return stronger after Tokyo exit
-
'Call of Duty' slammed for using real Seoul crowd crush footage
-
Hello Kitty firm apologises, scraps Japan TV tie-up after China anger
-
TotalEnergies profit hits record on high oil prices
-
Taiwan says Pakistan briefly closed airspace to Taiwanese flights
-
Key of seethe: I.Coast row with Sahel juntas spills into concert halls
-
'My blood was spilled here': a year on, Tanzania unable to mourn election violence
-
Romanian writer Cartarescu hails books as balm in turmoil
-
Afghanistan opium poppy cultivation surges despite Taliban govt ban: UN
-
Mbappe, Real Madrid and La Liga face long road to redemption in China
-
No World Series miracle for weary Rays
-
North Korea fires 'around a dozen' ballistic missiles into East Sea
-
Miami Heat earn first win of NBA season with Antetokounmpo
-
Brewers catcher Contreras named World Series MVP
-
Brewers beat Rays 4-1 to capture first World Series title
-
Asian stock markets fluctuate after mixed tech results
Major trade wars since the 19th century
As the world reels from US President Donald Trump's tariffs onslaught, here is a look back at some major trade wars since the 19th century:
- 19th century Opium Wars -
In the mid-19th century, two conflicts over the opium trade, which became known as the Opium Wars, pitted China against the British Empire.
The first began in 1839, when Britain launched a military expedition to force China to open its market to Indian opium sold by British merchants.
Britain won the clash in 1842, with success going beyond opium as China was forced to give up the region of Hong Kong, open five ports to world trade, and limit its customs tariffs to five percent.
In the second Opium War, from 1856-1860, Britain allied with France, and again the imperial power came out on top, forcing China to open up eleven additional ports to foreign trade and maintain diplomatic relations with the West.
- 1890: McKinley offensive -
In 1890, William McKinley -- then a Republican lawmaker, later a US president -- saw through a new law that slapped an average tariff of nearly 50 percent on imports into America.
While the tax hike boosted the development of tinplate production in the US, for example, it also caused prices to soar.
In elections that same year for the US House of Representatives, Republicans suffered big losses, losing their majority to the Democrats. Two years later, the incumbent Republic president was dumped by voters in favour of a Democrat.
McKinley's unpopular law was repealed in 1894.
He nevertheless went on to become US president in 1897. He was assassinated in 1901, months after winning a second term.
Trump often mentions as McKinley as inspiration his protectionist policies.
- 1930: Smoot–Hawley Act -
The Smoot-Hawley Act, named after the two US politicians behind it, imposed tariffs of nearly 60 percent on over 20,000 imported agricultural and industrial products.
Trade partners, led by Canada, retaliated with taxes on US exports, which fell by more than 61 percent between 1929 and 1933.
- 1960s: Chicken war -
In the early 1960s, France and Germany jointly decided to tax the import of US chicken, produced at industrial scale.
The United States retaliated with taxes on a series of products, particularly on certain utility vehicles, which remain taxed to this day.
The so-called Chicken War ran from 1961 to 1964.
- 1985: Pasta war -
This dispute began in 1985 when president Ronald Reagan, in a bid to protect US industry, raised tariffs on pasta imports from Europe .
Europe responded with taxes on US imports of nuts and lemons.
The standoff lasted nine months before the United States and the European Economic Community (EEC) -- as the EU was then known -- reached an agreement.
- 1989-2009: Beef hormone dispute -
In 1989, the EEC banned imports of beef treated with growth hormones.
After challenging the measure at the World Trade Organization (WTO), which ruled in their favour, the United States and Canada, the countries most affected, imposed 100-percent tariffs in 1999 on a range of European goods, from French Roquefort cheese to Italian truffles.
In a compromise deal inked in 2009, these taxes were eventually suspended, and European import quotas for high-quality, hormone-free beef were gradually increased, leading to a final agreement in 2019.
- 1993–2012: Banana war -
In 1993, the EU granted preferential customs regimes to the former European colonies in Africa, the Caribbean and the Pacific, to the detriment of bananas produced by US multinationals in Latin American countries.
These countries filed a complaint with the WTO, which condemned the EU several times, and Latin American countries were authorised to apply retaliatory measures.
An agreement was signed in 2012, allowing for a reduction in import tariffs on bananas from 11 Latin American countries and the end of actions taken by these countries against the EU.
- 2002: Bush vs. EU -
In 2002, US President George W. Bush imposed three-year surcharges of up to 30 percent on 10 categories of products including flat-rolled steel, machine wires and welded tubes.
These measures, intended to boost the US steel industry, affected nearly 29 percent of imports.
The EU filed a complaint with the WTO and published a list of US products it threatened to tax by up to 100 percent.
At the end of 2003, Bush opted to lift the tariffs.
bur-paj-lc-eab/rmb
M.O.Allen--AT