Regarding the Nov. 4 Economy & Business article “Stocks fall on China trade deal speculation”:
I couldn’t help but notice similarities between Thomas Jefferson’s Embargo Act of 1807 and President Trump’s new tariffs on Chinese-made products. Our nation is failing to heed the warnings of the past. Jefferson imposed the Embargo Act to avoid conflict with the warring nations of Britain and France. Although Jefferson intended to help, he would recognize its disastrous effects 15 months later, stating they were “losing 50 millions of D[ollars] of exports annually . . . it costs more than war, which might be carried on for a third of that.” Jefferson had the act repealed once he saw the economic disaster it created for Americans, Virginia farmers and New England merchants alike.
Mr. Trump’s tariffs disregard the small businesses and farms that keep our economy alive and the costs that will be passed on to consumers. It engages us in a petty trade war, an ocean away, without considering Americans. Our nation almost split apart back in 1807. Will we repeat the same mistakes?
Jillian Pollini, Melvin Village, N.H.