The U.S. has often pursued protectionism to boost economic growth. But history shows that this approach can backfire.

University of Minnesota economist Tim Kehoe says, to understand how tariffs could impact us today, we have to look back at history.

If the Trump Administration continues its torrid pace of implementing tariffs, it could wind up amounting to the biggest tax hike in U.S. history. White House aide Peter Navarro says Trump’s tariffs are expected to bring in $6 trillion in revenue over the next decade.