Will Trump’s sudden and large tariff increases lead to a depression as is the case for our last 4 depressions?

Please read the article, Radical Tariffs Aren’t New, But They Have Been Disastrous, by Scott Reynolds Nelson, April 14, 2025, Perspectives on History.

“… And in all four cases, the result was not recessions but depressions. These came in 1816–20, 1837–43, 1893–95, and 1930–33. All four depressions—which I define as two or more years of declining GDP—have started this way.”

“We are watching unprecedented actions by the president to be sure, but the result of radical changes in tariffs and international trade generally should be familiar to anyone who knows American financial history. Unfortunately, Congress appears to have slept through those lessons.”

https://www.historians.org/perspectives-article/radical-tariffs-arent-new-but-they-have-been-disastrous/