just put numerical limits on imports from China and other countries Bad idea. Protectionism was tried in 1930 with the Smoot–Hawley Tariff Act. It decreased trade by 60% and collapsed the global economy.
Wrong
Smoot-Hawley did not cause the Great Depression. By the time Smoot was passed, our major trading partners (Europe) were already imposing tariffs on foreign goods..and were looking to dump products on an unprotected US market.
Europe had already placed tariffs and barriers on South American agri products by the mid 1920’s...crashing the economies of South America
And, Europe’s economy was a total mess by 1930. They could not buy American products even if they did not have tariffs. The only two nations that had anything of trade value were Nazi Germany (mid 1930’s) and the USSR. We did not recognize the USSR until 1933..so no trade with them anyway
The Smoot-Hawley myth is pushed by the same Soros NeoCons who cannot accept the fact that Free Trade is a failure. Look at the EU
And, Smoot-Hawley was authored, sponsored, and passed by the GOP....who at the time believed in a strong American economy. Of course, to believe Smoot-Hawley caused the Great Depression....you would be in agreement with FDR and his fellow Democrats