Some things come in cycles...http://en.wikipedia.org/wiki/Smoot-Hawley_Tariff_Act
For this amateur economist, trouble really started back in 1966 when "cheap foreign" steel was allowed to be dropped on American shores.
(The trade protectionism issue is becoming a possible one here in Canada because of some noises being made south of the border. On the surface I do not think there is anything wrong with protecting your workers, but the world of trade is so complex now; certainly more so than it was in 1930 when the Smoot-Hawley Tariff Act was passed. Basic principles do not change, however.)
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