In an effort to increase the protection of domestic farmers against foreign agricultural imports, the Smoot-Hawley Act was passed. Efforts at European economic recovery following World War I led to massive agricultural overproduction. Food prices declined, causing farmers incomes to decline drastically. President Hoover, vowed to help farmers using protective tariffs . But soon everyone, including industry, wanted protective tariffs as well. The result, was the highest level of tariffs in US history. Foreign exporters retaliated, hitting US imports with high tariffs as well. Although the Smoot-Hartley Tariff Act did not cause the Depression, it made it a lot worse and International trade diminished to less than one third of its original totals.
It's actually refered to as the "Smoot-Hawley" Tariff Act. It was passed in essence to protect American farmers and some industries shortly after the 1929 Stock Market crash. Passed in 1930 it effectively placed high import taxes "tariffs" on imported goods. However, no country is simply going to sit back and allow Another Country to raise their import taxes without raising their own. So, to make the long story short: Smoot-Hawly actually backfired on America and basically brought international trade to a standstill, by allowing countries to keep competition out of their country. We almost made the same identical mistake just this past year, when in the Obama stimulus package both parties wanted to insert a "Buy American only" clause. Britain and few other large trading partners threatned to do the same thing back to us and we backed down in a hurry.
The Hawley Smoot Tariff was a protectionist act that raised taxes on imported goods. It was part of a round of protectionist acts implemented by governments as economies around the world slowed down. The general consensus is that these tariffs including HS, contributed significantly to the great depression by slowing down international trade.
The end of the use of high tariffs in 20th-century American trade policy.
they imported more American goods
It was very popular with European farmers because they could easily sell their crops in America.
it raised tariffs on imported goods.
destroying international trade
McKinley Tariff
Hawley Smoot Tariff
What caused this was South Carolina's Ordinance of Nullification in 1832
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passing a tariff on sugar
the hawley-smoot tariff caused other countries to retaliate, so markets for American goods dried up
the hawley-smoot tariff caused other countries to retaliate, so markets for American goods dried up
The Payne-Aldrich Tariff Act split the Republican party into the Progressives and the Old Guard. The split caused a loss in the next election.
The Tariff of 1832 was a protectionist tariff in the United States. It was passed as a reduced tariff to remedy the conflict created by the tariff of 1828, but it was still deemed unsatisfactory by southerners and other groups hurt by high tariff rates. Southern opposition to this tariff and its predecessor, the Tariff of Abominations, caused the Nullification Crisis involving South Carolina. The tariff was later lowered down to 35 percent, a reduction of 10 percent, to pacify these objections. This was still not satisfactory, and the Tariff of 1833 resulted.
The Hawley-Smoot Tariff raised import duties so American jobs could be protected in farming and business, including imports. The tariff raised by 20% , which caused foreign countries to make their own tariffs against the U.S. and raising their own tariffs.http://www.britannica.com/EBchecked/topic/550096/Smoot-Hawley-Tariff-Act
McKinley Tariff
B. The price of French cheese to United States citizens will increase.