Republican and Democratic congressmen warn against Trump's tariffs

Aerial view of cargo ship.

By Former Reps. Charlie Dent (R-PA) and Dan Glickman (D-KS) via The Hill

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That [Smoot-Hawley tariffs] act increased tariffs by 20 percent on a wide range of industrial and agricultural products. It was a terribly misguided effort at protecting U.S. producers and reversing the depression. But its effect was to deepen and lengthen it and to spread it globally. From 1929 to 1933, global trade declined from $3 trillion to less than $1 trillion.