Smoot Hawley happened in a situation which was the diametric opposite of our current world situation.
Back then, America had the most to lose.
We were a massive exporting powerhouse.
Hint: We’re an importing mess now. We really have no more industry to lose.
We have everything to gain from a trade war. The only real question is, what are we waiting for?
Back when Paul Volker straightened out the Jimmy Carter mess... we were a mighty exporting nation and did not run continual trade deficits. Times are so much different today. I fail to see how a nation (USA) that runs a 600 billion dollar annual trade deficit can lose a trade war. We have to produce more and consume less. We have so much “stuff” in peoples houses and garages and flea markets that I don’t think we would even notice if China sold us nothing for the next five years. We could fix and make do w what we have and make more right at home in the good ol USA
Ya know and that loss of industries has cut down on a lot of our pollution and CO2 output. But of course the eco-wackos don't care and press onward with their insane money-draining schemes. Because they don't know how to produce...they just know how to harass the real producers, capitalists and workers of America