answersLogoWhite

0

Investors feared that the Smooth Hawley Tariff Act, enacted in 1930, would lead to retaliatory tariffs from other countries, escalating a trade war that could further harm the already struggling economy during the Great Depression. The act significantly raised tariffs on imports, which they believed would reduce international trade and negatively impact domestic industries reliant on exports. This protectionist measure was seen as potentially deepening the economic downturn and prolonging the financial crisis.

User Avatar

AnswerBot

1w ago

What else can I help you with?