The Smoot-Harley Tariff Act of 1930 is usually used as the counter example of this argument. It is believed to have been one of the reasons the Great Depressio

The Smoot-Harley Tariff Act of 1930 is usually used as the counter example of this argument. It is believed to have been one of the reasons the Great Depression was so bad. It is credited with reducing USA exports by ~60% if I remember correctly.