How did tariffs negatively 3ffect the global economy during the great depression?

Answer 1

During the Great Depression, tariffs, particularly the Smoot-Hawley Tariff of 1930, exacerbated the global economic downturn by significantly raising import duties. This led to retaliatory tariffs from other countries, resulting in a sharp decline in international trade. As nations turned inward, the reduced trade further deepened economic woes, increased unemployment, and hindered recovery efforts worldwide. The overall effect was a prolonged period of economic stagnation that hindered global economic cooperation and growth.