Herbert Hoover asked: "What does it mean?"
Donnie replied: "It means that by then, all countries engaged in international trade with the United States will take retaliatory actions, raising our tariffs as well.
Currently, with the nationwide production surplus, countless factories are closing down, and billions of products are left unsold in warehouses.
Under such circumstances, a multitude of companies engaged in foreign trade will collapse, leading to millions, tens of millions of unemployed taking to the streets!"
Donnie was not being alarmist with these words. After the bill was passed, some countries immediately began retaliatory actions.
The first to react was the United States' largest trading partner, Canada.
Canada immediately announced a tripling of tariffs on 16 types of products imported from the United States, representing 30% of the U.S. exports to Canada in terms of total amount.
