Protectionist tariffs did, in fact, play a role in the action of the Great Depression.<p><i>Such policies, which were adopted by many countries during this time, contributed to a drastic contraction of international trade. For example, U.S. imports from Europe declined from a 1929 high of $1,334 million to just $390 million in 1932, while U.S. exports to Europe fell from $2,341 million in 1929 to $784 million in 1932. Overall, world trade declined by some 66% between 1929 and 1934.</i><p>[0] <a href="https:&#x2F;&#x2F;history.state.gov&#x2F;milestones&#x2F;1921-1936&#x2F;protectionism" rel="nofollow">https:&#x2F;&#x2F;history.state.gov&#x2F;milestones&#x2F;1921-1936&#x2F;protectionism</a>