Trump got to be mindful that trade war in 1930's started by US trigger a Deep Depression and started World War 2.
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1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade.[17] By late 1930, a steady decline in the world economy had set in, which did not reach bottom until 1933.[citation needed]
A large contribution to the recession is due to the closure and suspension of thousands of banks across the country. The causation of these failing financial institutions come from several reasons including unregulated lending procedures, confidence in the Gold standard, consumer confidence in future economics, and agricultural defaults on outstanding loans. With these compacting issues the banking system struggled to keep up with the high demand of cash withdraws from the public.
However, only the mobilization that followed America's entry into World War II finally brought an end to the Depression.
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