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The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, [1] was a law that implemented protectionist trade policies in the United States.
Hawley served in Washington, D.C., from March 4, 1907, until March 3, 1933. [3] While in Congress, he was chairman of the Committee on Ways and Means for the Seventieth and Seventy-first Congresses. Hawley was then a co-sponsor of the Smoot–Hawley Tariff in 1930, which raised import tariffs to record levels. [3]
Donald Trump's proposed tariffs on imports would likely lead to a depression similar to the Great Depression, as seen in the Smoot-Hawley tariff act of 1930, which caused the global trade to ...
What happened a century ago can be instructive when evaluating presidential candidates' tariff proposals, writes Mark Edelman. Opinion: History of tariffs shows the limits of populism Skip to main ...
The Trade Act of 1930 that includes Section 338 is better known for massive U.S. tariff increases and subsequent retaliation that economic historians say worsened the 1930s Great Depression.
1930 – Frozen vegetables, packaged by Clarence Birdseye, become the first frozen food to go on sale; 1930 – The Democrats take Congress in the Midterms. Will keep it until 1946. 1930 - Hawley-Smoot Tariff; 1930 - Clyde Tombaugh discovered Pluto; 1930 - Sinclair Lewis is the first American to win Nobel Prize for Literature
The Tariff Act of 1930, commonly known as the Smoot–Hawley Tariff, implemented protectionist trade policies, was signed by President Hoover on June 17, 1930. The act raised US tariffs on over 20,000 imported goods. [14]
Both Smoot and Hawley lost their seats. On X/Twitter, one economics professor shared the clip with the caption: “Ferris Bueller is strikingly more instructive than 99.99% of political ...