In the early days of the Great Depression, Rep. Willis Hawley, a Republican from Oregon, and Utah Republican Sen. Reed Smoot thought they had landed on a way to protect American farmers and manufacturers from foreign competition: tariffs.

Cheeseheads and cheesecakes join the punchlines and headlines, and an enthusiastic audience gets a mild scolding for slipping past the censors. Temporarily.

One expert is comparing the fallout from President Donald Trump’s tariffs to the aftermath of a trade policy that deepened the Great Depression.

Despite rattled financial markets, threats of retaliation and some of President Donald Trump’s biggest supporters encouraging him to back off his signature economic policy, he didn’t give in. His administration piled on heaps of new “reciprocal” tariffs Wednesday on dozens of American allies and adversaries alike,

U.S. Trade Representative Jamieson Greer told U.S. senators on Tuesday that President Donald Trump's administration will not change tactics on tariffs in the near term and warned that some pain for businesses will be necessary to bring home manufacturing jobs.

"Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down. May cooler heads prevail," the billionaire wrote on X. Ackman said the impact of tariffs will be particularly harsh for low-income Americans.

The nation's top trade representative said Tuesday that President Donald Trump’s sweeping tariffs are already getting results, bringing other countries to the negotiating table to discuss reducing their trade barriers.

Republican senators are confronting the Trump administration with a bevy of worries about the economic impacts of the president’s sweeping tariff strategy

Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%.