It was such protectionism that led to the Smoot-Hawley Tariff Act of 1929--30, the precipitator of the Great Depression.
FORBES: Magazine Article
Eric Harwit, a professor at the University of Hawaii, says they are contemplating South Korean- or Japanese-style protectionism: red tape and other non-tariff barriers.
ECONOMIST: Is there any point in manufacturing cars in China?
So, a U.S.-first approach to currencies, or other trade protectionism such as industry subsidies or (always) tariff barriers themselves, is abhorrent.
FORBES: Right Is Caught Between China and Obamanomics
With the exception of a China-bashing tyre tariff and a retreat on Mexican trucks, Mr Obama has eschewed protectionism.
ECONOMIST: Barack Obama and business
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