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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.
The Smoot–Hawley Tariff Act was signed by Hoover on June 17, 1930, while the Wall Street crash took place in the fall of 1929. Most of the trade contraction occurred between January 1930 and July 1932, before most protectionist measures were introduced, except for the limited measures applied by the United States in the summer of 1930.
1913: Revenue Act of 1913 (Underwood Tariff) 1921: Emergency Tariff of 1921; 1922: Fordney–McCumber Tariff; 1930: Smoot–Hawley Tariff Act; 1934: Reciprocal Tariff Act; 1947: General Agreement on Tariffs and Trade; 1962: Trade Expansion Act; 1974: Trade Act of 1974; 1979: Trade Agreements Act of 1979; 1984: Trade and Tariff Act of 1984; 1988 ...
Because of a loophole in the Tariff Act of 1930, which allowed Customs and Border Protection to seize shipments where slave labor was suspected, goods produced by forced labor were still being ...
But critics of tariffs grew and reached a crescendo with the historic failure of the Smoot-Hawley Tariff Act of 1930. It was signed into law by Hoover in the early stages of the Great Depression ...
To get a better look at the potential repercussions, we can look at the effects of the 1930 Smoot-Hawley Tariff Act, which imposed tariffs on tens of thousands of imported goods in an attempt to ...
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 ]
Smoot was a co-sponsor of the Smoot–Hawley Tariff Act in 1930, which raised U.S. import tariffs on over 20,000 dutiable items to record levels. Many historians believe that it exacerbated the Great Depression. U.S. President Herbert Hoover signed the act into law on June 17, 1930. [2]