It was the Gilded Age, a time of rapid population growth and transformation from an agricultural economy toward a sprawling industrial system, when poverty was widespread while barons of phenomenal wealth, like John D. Rockefeller and J.P. Morgan, held tremendous sway over politicians who often helped boost their financial empires.

McKinley, Garfield point the way for the 47th president. President Trump foresees “a period of transition” before his tariffs replicate the Gilded Age economic boom. With opponents warning about that “pain,” he can look to predecessors of that era for guidance on America’s nerves.

In arguing for more tariffs on goods imported to the United States, President Donald Trump has repeatedly claimed that the U.S. was its “richest” or “wealthiest” during the late 1800s and early 1900s because of tariffs.

President Trump idealizes the Gilded Age, emphasizing high tariffs and low interest rates to stimulate the economy. He praises President McKinley's tariff policies, despite experts noting the era's inequality and corruption.

The desire to recreate the Gilded Age is fueled by Trump’s fondness for tariffs. It’s also why he praises the nation’s 25th president, William McKinley, a Republican who was in office from 1897 until being assassinated in 1901.