OTTAWA - In the months following the great stock market crash of 1929, the world was staring down into the economic abyss in much the same way as today.
Economies around the world were in shambles, there was fear and uncertainty of what lay ahead, and protectionist forces in the United States - ground zero of both the problem and hope for recovery - were thinking of ways to shelter local industries and jobs.
What they came up with was a law called the Smoot-Hawley act that hiked tariffs to all-time highs on some 70 agricultural products and 900 manufactured items.
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