Donald Trump’s tariff plan could bring us back to the 1930s ...Middle East

The Hill - News

Donald Trump has claimed that Kamala Harris’s economic plan would result in an economic depression on the scale of the Great Depression of 1929. However, a major element of his own economic plan is the imposition of high tariffs on imports, which would be much more likely to lead to a depression than anything Harris is proposing. And there’s historical proof of that. The stock market crash of October 1929 is generally accepted as the event that began the Great Depression. However, the market had partially rebounded in the first half of 1930, before President Herbert Hoover signed into law the Smoot-Hawley tariff act in June of that year. That act increased tariffs by 20 percent on a w

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Donald Trump’s tariff plan could bring us back to the 1930s ...Middle East

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