‘Remember Mount McKinley?’ Trump’s 1890s USA claim debunked
-Reuters/White House Historical Association
Donald Trump claimed that the 1890s were America’s most prosperous period, attributing the success to high tariffs imposed by President William McKinley.
During Friday's town hall event in Michigan, Trump emphasized the use of tariffs to protect American businesses, suggesting they played a key role in strengthening industries like steel. "We’re gonna use tariffs very, very wisely," Trump stated, pointing to the 1890s as a time of significant economic growth.
However, historian T. J. Stiles, a Pulitzer Prize-winning author, has disputed this claim. Stiles explained that the 1890s were not the wealthiest period in U.S. history and pointed out that McKinley was not a businessman.
Stiles referenced the McKinley Tariff Act of 1890, which raised duties on imported goods by about 50%. Stiles noted that the tariff contributed to significant political losses for the Republican Party in the 1890 midterm elections, as well as President Benjamin Harrison’s defeat by Grover Cleveland in 1892.
Trump is no better as a historian of the 1890s than he is of the Civil War. No, it wasn’t America’s wealthiest time. No, McKinley wasn’t a businessman. His first big tariff bill, which he wrote in Congress, in part cost Republicans the House & White House. Didn’t make us rich. https://t.co/HiIBWellZg
— T.J. Stiles (@TJStiles_Author) September 27, 2024
Stiles also emphasized that economic prosperity during McKinley’s presidency wasn’t solely driven by tariffs. He argued that McKinley’s commitment to the gold standard contributed to economic challenges and that tariffs often benefited special interest groups.
Research supports the idea that tariffs can lead to higher consumer costs. Washington Post columnist Catherine Rampell has described tariffs as a "tax" on consumers, as businesses often pass on the increased costs of imported goods. The Peterson Institute for International Economics estimated that a 20% tariff could raise annual costs for the average American family by $2,600 due to higher prices.