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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
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When Congress passed the SmootHawley tariff to help alleviate conditions of the Great Depression why was it actually the wrong thing to do?
The Tariff Act of 1930 raised tariff fees on imported goods to a historical high. Meant to help US business at a fragile time, it actually worsened the situation by reducing US imports and exports to nearly half. This overall this contributed to a longer and deeper depression.
What was the nature of the tariff controversy of the late 1820s?
What issue was at the center of the debate about the tariff law of 1828?
What factor helped to worsen the great depression?
The Smoot-Hawley Tariff act
How does woody guthrie relate to the Great Depression?
Woody Guthrie lived through the Great Depression and wrote songs about it.
Was tariff low or high during the Great Depression?
During the Great Depression, tariffs were generally high, particularly after the enactment of the Smoot-Hawley Tariff Act in 1930, which raised duties on hundreds of imported goods. This move aimed to protect American industries but ultimately led to retaliatory tariffs from other countries, exacerbating the economic downturn. As a result, global trade declined significantly, contributing to the depth and duration of the depression.
When Congress passed the SmootHawley tariff to help alleviate conditions of the Great Depression why was it actually the wrong thing to do?
The Tariff Act of 1930 raised tariff fees on imported goods to a historical high. Meant to help US business at a fragile time, it actually worsened the situation by reducing US imports and exports to nearly half. This overall this contributed to a longer and deeper depression.
How does hooverville relate to the Great Depression?
It happenes during the Great Depression.
What was the nature of the tariff controversy of the late 1820s?
What issue was at the center of the debate about the tariff law of 1828?
What factor helped to worsen the great depression?
The Smoot-Hawley Tariff act
How does woody guthrie relate to the Great Depression?
Woody Guthrie lived through the Great Depression and wrote songs about it.
What was the name extremely high tariff act that killed international trade and deepened the Great depression?
Hawley-Smoot
Is balance of power and alliances relate to Great Depression during world war 2?
The great depression of the 1930's influenced the power and alliances of the nations involved in WW2.
Was tariff low or high during the Great Depression?
During the Great Depression, tariffs were generally high, particularly after the enactment of the Smoot-Hawley Tariff Act in 1930, which raised duties on hundreds of imported goods. This move aimed to protect American industries but ultimately led to retaliatory tariffs from other countries, exacerbating the economic downturn. As a result, global trade declined significantly, contributing to the depth and duration of the depression.
How did the Great Depression relate to the school of classical economics?
the great depression appeared to disprove the classical theory that demand and supply could return to a healthy equilibrium through market forces alone
What has the author Mario J Crucini written?
Mario J. Crucini has written: 'Tariffs and the Great Depression revisited' -- subject(s): Depressions, Tariff
Why was the fordney-mccumber tariff act introduced?
The Fordney-McCumber Tariff was where they raised the cost of foreign farm products so Americans would be more likely to buy farm products from farmers in the U.S who were suffering after the great depression.
Smoot-Hawley Tariff?
Was enacted in 1930. This treaty raised tariffs on many imported goods. Many American trading partners retaliated in response to this tariff. It might have even worsened the Great Depression. It reduced international trade.
