Thanks loads, George W.
A highly predictable reaction from Europe over the steel tariffs Bush pushed into place.
This type of sequence has been repeated countless times in the past. Tariffs are imposed for short-term, political reasons, and the resulting trade war throws a monkey wrench into the entire economy. A strong case can be made that the Smoot-Hawley tariff of 1930 helped make the Depression worse.
In any case, a stiff price to pay just to be able to stick Pennsylvania in the "Bush" column next election. Never mind the loss of conservative credibility.