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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.
That would be a historic high and surpass those seen under President McKinley in the 1890s, when U.S. trade policies were far more protectionist, and during the 1930s under the Smoot-Hawley Tariff ...
The decline in trade between 1929 and 1933 "was almost entirely a consequence of the Depression, not a cause. Trade barriers were a response to the Depression, in part a consequence of deflation." [98] 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.
The USITC was established by the U.S. Congress on September 8, 1916, as the U.S. Tariff Commission. [5] In 1974, the name was changed to the U.S. International Trade Commission by section 171 of the Trade Act of 1974. [6] Statutory authority for the USITC's responsibilities is provided by the following legislation: Tariff Act of 1930
To enact tariffs, Trump will probably declare a national economic emergency, invoking the International Emergency Economic Powers Act, known as “IEEPA,” which unilaterally authorizes a ...
But trade lawyers say the White House has some authority to act independently of Capitol Hill, thanks to specific powers granted by the Trade Expansion Act of 1962, the Trade Act of 1974 and the ...
Since 1974, the Trade Act of 1974 allows the president to impose a 15% tariff for 150 days if there is "an adverse impact on national security from imports." After 150 days, the tariff expires unless extended by Congress. [55] In 1977, the International Emergency Economic Powers Act shifted powers even more towards the White House. The Trump ...
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: Omnibus Foreign Trade and Competitiveness Act; 1994: World Trade ...