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“The Smoot Hawley tariffs of 1930 had a lot more to do with the Great Depression than the stock market. Unemployment was nowhere near as low the first year after the stock market as it was in the first five months after those tariffs went in." Economist Thomas Sowell on Monday compared the tariffs implemented during the Great Depression to President Donald J. Trump’s aluminum and steel duties. Sowell warns tariffs could be "a catastrophic mistake" depending on how far Trump wants to push it. htt
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