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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.
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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.
How where the European countries hurt during the Depression?
United States companies stopped investing in Germany.
Did American trade policies during the period of isolationism help contribute to the deep economic woes of the great depression?
Yes, American trade policies during the period of isolationism contributed to the economic woes of the Great Depression. The imposition of high tariffs, such as the Smoot-Hawley Tariff of 1930, restricted international trade and led to retaliatory measures from other countries, exacerbating the global economic downturn. This isolationist approach limited market access for American goods and stifled economic recovery, worsening the financial crisis domestically and internationally.
How did the depression challenge the traditional belief of Hoover in rugged individualism?
The welfare system was created during the Great Depression. This system helps those families that are in need due to illness or high unemployment rates.
Which of the fWhich of the following describes policies used in the US and Europe during the 1930s that worsened the Great Depression?
During the 1930s, both the US and Europe implemented policies such as protectionist trade measures, including high tariffs like the Smoot-Hawley Tariff, which reduced international trade and exacerbated economic downturns. Additionally, austerity measures aimed at balancing budgets led to cuts in public spending, further stifling economic recovery. These policies, driven by a focus on domestic stability, ultimately deepened the severity and duration of the Great Depression.
What was the name extremely high tariff act that killed international trade and deepened the Great depression?
Hawley-Smoot
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.
Sky-high tariff bill of 1930 that deepened the depression and caused international financial chaos?
Hawley Smoot Tariff
How high did the employment rate get during the Great Depression?
During the Great Depression, unemployment in the United States reached 25 percent. In some countries it reached 33 percent. The depression began in 1930.
Which describes the economy of facist Germany during the great depression?
high employment with low wages
Social problems brough on by the Great Depression?
Social Problems during the Great Depression, defined as the greatest period of low economic activity and high unemployment in American history.
Why did we have high tariffs during the depression?
High tariffs during the Great Depression, particularly exemplified by the Smoot-Hawley Tariff Act of 1930, were implemented to protect domestic industries from foreign competition and to stimulate the U.S. economy. However, these tariffs led to retaliatory measures from other countries, exacerbating global trade tensions and deepening the economic crisis. The intention was to shield American jobs, but the result was a decline in international trade, which ultimately hindered economic recovery.
What were some problems with transportation during the Great Depression?
the difficulties that are faced is high cost, time consumption, affordability........
How did some people become wealthy during the Great Depression?
wealthy people became rich in the great depression by collecting all the cheese from around the twon to sell to the peasents at a high price. wealthy people became rich in the great depression by collecting all the cheese from around the twon to sell to the peasents at a high price. wealthy people became rich in the great depression by collecting all the cheese from around the twon to sell to the peasents at a high price. wealthy people became rich in the great depression by collecting all the cheese from around the twon to sell to the peasents at a high price.
What was the high tariff to limit foreign competition?
A high tariff to limit foreign competition is called a protective tariff.
How where the European countries hurt during the Depression?
United States companies stopped investing in Germany.
What was High tariff to limit foreign competition?
A high tariff that limits foreign competition is a protective tariff.
