Economic Policies and Their Aftermath
The , aimed at protecting American industries, is widely regarded by historians as exacerbating the due to retaliatory tariffs.
Despite its historical failure, President has cited the Act and high tariffs as a foundation for his own trade policies, arguing that a return to such measures is beneficial for the U.S. economy.
Misinterpretations and Economic Lessons
Critics argue that Trump's interpretation of the Great Depression's causes and the role of tariffs is flawed, pointing out that high tariffs were not abandoned until after 1913 and that the U.S. had effectively used low tariffs post-World War II.
Economists and historians highlight the shift away from high tariffs as a strategic move for a technologically advanced U.S., suggesting that the current trend towards protectionism may not align with historical economic successes.