I never thought I would see the day when people started looking to Ferris Bueller for lessons on economics but these are the times that we are in. People are using this as a quick explanation of what tariffs are and how the Smoot-Hawley Tariff Act helped deepen the Great Depression. We have historical record of what overtly high tariffs did last time and yet the administration has decided, as of this writing, to keep going ahead with them. I want to emphasize “as of this writing” because no-one is quite sure where the administration plans to go with tariffs in the immediate future. Case in point, Portal Games. This email discusses some of the actions the company plans to take in response to American tariffs and notably, advises American customers who want to back their upcoming release Race for Berlin to put in a $1 placeholder pledge until the company determines if the administration will change its mind about how much tariffs should be:
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