Here’s how present events are mirroring a key point in U.S. history that led to a trade war and exacerbated the Great Depression, according to economists.

According to President Sheinbaum, Mexico has cut a deal with the U.S. to delay the tariffs. Under the deal, she said Mexico is sending another 10,000 members of its national guard to the southern border to combat drug traffickers, while the U.S. has agreed to do more to prevent the trafficking of high-powered weapons to Mexico.

Traders and farmers hope that the Trump administration is using tariff threats as leverage in trade negotiations, as opposed to following through with a major disruption to agricultural trade.