We document the outbreak of a trade war after the U.S. adopted the Smoot-Hawley tariff in June 1930. U.S. trade partners initially protested the possible implementation of the sweeping tariff legislation, with many eventually choosing to retaliate by increasing their tariffs on imports from the...

Introduction : geographical and historical background -- The world economy at the turn of the first millennium -- World trade 1000-1500 : the economic consequences of Genghis Khan -- World Trade 1500-1650 : old world trade and new world silver -- World trade 1650-1780 : the age of mercantilism...