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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.
In the case of the Smoot-Hawley tariffs, they went into effect during the Great Depression, when demand was crashing as other countries were taking similar steps on trade.
The plans have drawn comparisons to the Smoot-Hawley Tariff Act of 1930, which sharply raised U.S. tariffs, triggering retaliation and a global collapse of trade that helped worsen the Great ...
In 1930, the president signed the Smoot-Hawley Tariff Act into law. Over 1,000 economists signed a petition against the Tariff Act, but it passed and was signed anyway. Smoot-Hawley levied 40% to ...
The Smoot-Hawley Act, which set U.S. tariffs in the early 1930s, and similar measures by other nations, played a role in worsening the Great Depression. How could tariffs impact Michigan automakers?
The U.S. foreign-trade zones program was created by the Foreign-Trade Zones Act of 1934. The Foreign-Trade Zones Act was one of two key pieces of legislation passed in 1934 in an attempt to mitigate some of the destructive effects of the Smoot-Hawley Tariffs, which had been imposed in 1930. The Foreign-Trade Zones Act was created to "expedite ...
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 ...
Looking at the whole period, the combined impact of Smoot-Hawley and deflation increased the average tariff on dutiable imports from 40.1 percent in 1929 to 59.1 percent in 1932 – an increase of 47 percent. In effect, the Smoot-Hawley legislation raised the average tariff by 16 percent and deflation raised the average tariff by another 30 ...