The Human Toll of Tariffs

Tariffs can be beneficial when used wisely, but punitive and retaliatory tariffs can escalate into trade wars, trigger economic collapses, and lead to armed conflict.

Mar 15, 2025

As many of my close friends know, I love authentic Belgian beer. Brewed for centuries, it’s fermented with wild yeast strains and perfected with secret recipes that produce a rich yet subtle taste.

I was having trouble finding a store that stocks my favorite Belgian, Carolus Imperial Dark, until I discovered Bine and Vine Bottle Shop in San Diego.

Bine and Vine is owned by Geoi (pronounced “Joey”) Bachoua. He curates unique European wine and beer, and is of the most likeable, hard-working people I know. A few days ago, I called to ask when his next shipment of Carolus would arrive.

We never talk politics, only Belgians. But on this call, Geoi’s concern was palpable as he confided that he fears he will lose his business if President Trump’s threatened tariffs on European wine and beer are implemented.

Geoi’s story is an American story, one of tens of thousands of small business owners across America feeling the same apprehension over the trade wars triggered by Trump’s tariffs.

Small businesses are essential to our economy, creating two-thirds of all new jobs and contributing trillions of dollars to our GDP. It’s why they’ve long been called the “backbone of our nation” and form a central part of the “American Dream.” Behind every small business are hard-working people, giving it their all to make that dream come true.

Tariffs and trade wars were a principal factor in deepening the Great Depression.

Shortly after the onset of the Great Depression, the Smoot-Hawley Act raised U.S. tariffs on more than 20,000 imported goods to protect American farmers and businesses. Smoot-Hawley is now widely blamed for worsening the crisis by prompting retaliatory tariffs from other countries, which soon spiraled into a full-blown trade war.

The German economy was hit so hard by the trade wars that it helped fuel the fire of intense nationalism, contributing to Hitler’s rise to power and WWII.

Since the founding of our nation, tariffs have been used to bolster the productivity of the domestic economy, regulate international trade exposure, and support foreign policy. But they have often led to misunderstandings, retaliation, and trade wars, especially when imposed haphazardly, punitively, or vindictively.

We are already experiencing nationwide economic shock from the Trump tariffs. Consumer prices are rising, the stock market is in turmoil, and 401 (k) retirement funds are taking serious hits. Retaliatory tariffs from Europe, Canada, and Mexico threaten thousands of jobs in our major industries, including agriculture, heavy machinery, automobiles, iron, steel, and consumer electronics. Hundreds of thousands of jobs at risk.

Ordinary Americans

Geoi Bachoua has been in business for thirteen years. Bine & Vine Bottle Shop provides the main financial support for him, his wife, and his three young children.

He is one of untold thousands of Americans who now fear that their American Dream is on the verge of becoming a nightmare.