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Great Depression, Smoot–Hawley Tariff Act and Trump

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Politico |
China announced earlier today that it would ramp up its levies on all U.S. exports to 84 percent beginning tomorrow, per Bloomberg.
NBC News |
Trump announced a 90-day pause on tariffs for more than 75 trading partners that did not retaliate after his sweeping duties went into effect.
BBC |
But it remains a potentially seismic action, affecting more than $2tn worth of imports, which will push the overall effective tariff rate in the US to the highest level in more than a century.

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Trump says high tariffs may have prevented the Great Depression. History says different
In the early days of the Great Depression, Rep. Willis Hawley, a Republican from Oregon, and Utah Republican Sen.
Trump says high tariffs may have prevented the Great Depression. History says different.
America’s history of high tariffs actually continued well after 1913, however, and Trump’s take on what sparked the Great Depression — and Hoover-era Washington’s response to it — don ...
Playbook PM: Trump’s abrupt tariff reversal
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WPBF1d
President Trump says high tariffs may have prevented the Great Depression. What history tells us
"America's history of high tariffs actually continued well after 1913, however, and Trump's take on what sparked the Great Depression — and Hoover-era Washington's response to it — don't ...
The last time the US raised tariffs this much it made the Great Depression way worse
Trump's tariff hike mirrors the 1930 Smoot-Hawley Tariff Act, which exacerbated the Great Depression and led to a major shift in US trade policy.
PopCrush on MSN6d
Why ‘Great Depression’ Is Trending on Social Media
Users flocked to social media posting snarky videos and memes using the hashtag #GreatDepression on April 2. Find out why.
Complex6d
Is the Great Depression Getting a Sequel? People Cope With Jokes After Trump's Tariffs Announcement
The announcement caused the global markets to tumble over the last 24 hours. According to CNN, Japan’s Nikkei 225 index closed 2.8 percent down; South Korea’s Kospi index fell 2.7 percent; Germany’s DAX index dropped 1.3 percent; and London’s FTSE 100 fell 1 percent by at 4.24 a.m. ET.
U.S. tariff rates under Trump will be higher than the Smoot-Hawley levels from Great Depression era
President Donald Trump’s new policies put the effective tariff rate above the level of around 20% set by 1930’s Smoot-Hawley Tariff Act, according to Sarah Bianchi, a strategist at Evercore ISI. An estimate from Fitch Ratings said that the tariff rate would hit its highest level since 1909.
Trump tariff: Is US headed towards another Great Depression? Expert cites two monumental mistakes of 1828 and 1930
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Trump's tariffs are still a disaster despite him backing down, Harvard economist says
MSNBC's Lawrence O'Donnell is joined by Jason Furman, Harvard economic policy professor and former chief of Pres. Obama's Council of Economic Advisers, to discuss the damaging effects of the tariffs still left in place despite Donald Trump pausing some of them for at least 90 days.
How Trump changed his mind on tariffs
Trump and officials in his administration were fielding calls from worried allies, and his advisers presented him with worrying data on the bond markets.
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