IT'S OVER: America Just Made the Exact Same Mistake That Started the Great Depression

The last time America did this, the world economy collapsed. In 1930,
President Hoover signed the Smoot-Hawley Tariff Act — raising tariffs
on 20,000 imported goods — against the warnings of over 1,000 economists.
Canada retaliated first. Then 25 more nations followed. Global trade fell
65%. Unemployment hit 25%. The Great Depression deepened for a decade.

On March 4, 2026, history repeated. Here's exactly what comes next.

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📚 SOURCES & FURTHER READING
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🏛️ SMOOT-HAWLEY — PRIMARY & OFFICIAL SOURCES
- US Senate — "The Senate Passes the Smoot-Hawley Tariff" (official history):
https://www.senate.gov/artandhistory/history/minute/Senate_Passes_Smoot_Hawley_Tariff.htm

- US State Dept. Office of the Historian — Smoot-Hawley & Protectionism:
https://history.state.gov/milestones/1921-1936/protectionism

- Miller Center — Hoover's Message on the Smoot-Hawley Tariff Act (June 16, 1930):
https://millercenter.org/the-presidency/presidential-speeches/june-16-1930-message-regarding-smoot-hawley-tariff-act

- St. Louis Fed (FRASER) — Original Tariff Act of 1930 document:
https://fraser.stlouisfed.org/title/tariff-1930-smoot-hawley-tariff-5882

📖 SMOOT-HAWLEY — HISTORICAL ANALYSIS
- Britannica — Smoot-Hawley Tariff Act: History, Effects & Facts:
https://www.britannica.com/topic/Smoot-Hawley-Tariff-Act

- Wikipedia — Smoot–Hawley Tariff Act (detailed breakdown with trade data):
https://en.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Act

- ABC News — "What to Know About Smoot-Hawley and What Its Legacy Means for Trump":
https://abcnews.go.com/Business/smoot-hawley-tariffs-trump/story?id=116381286

- Corporate Finance Institute — Smoot-Hawley Overview & Economic Impact:
https://corporatefinanceinstitute.com/resources/economics/smoot-hawley-tariff-act/

📰 2025–2026 US–CANADA TRADE WAR
- Wikipedia — 2025–2026 United States Trade War with Canada and Mexico:
https://en.wikipedia.org/wiki/2025%E2%80%932026_United_States_trade_war_with_Canada_and_Mexico

- Wikipedia — Full Timeline of the Trade War (2025–2026):
https://en.wikipedia.org/wiki/Timeline_of_the_2025%E2%80%932026_United_States_trade_war_with_Canada

- Government of Canada — Official Response to US Tariffs:
https://www.canada.ca/en/department-finance/programs/international-trade-finance-policy/canadas-response-us-tariffs.html

- Blakes Law — US–Canada Tariffs: Full Timeline of Key Dates (updated March 2026):
https://www.blakes.com/insights/us-canada-tariffs-timeline-of-key-dates-and-documents/

- The Fulcrum — "The Facts on US–Canada Tariffs Nearly One Year In" (Feb 2026):
https://thefulcrum.us/economy/u-s-canada-tariffs-2026

- The Globe and Mail — "12 Charts to Watch in Year 2 of the Trade War":
https://www.theglobeandmail.com/business/international-business/article-2026-in-charts-trade/

- CFIB — Canada–US Trade War tracker (updated live):
https://www.cfib-fcei.ca/en/site/us-tariffs

📊 TARIFF ECONOMIC IMPACT DATA
- Tax Foundation — 2026 Trump Tariffs & Trade War by the Numbers (Feb 2026):
https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/

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History Repeats is an educational channel exploring the economic and
geopolitical patterns that cycle through history. Every video is
independently researched and sourced. Nothing here is financial advice.

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