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What did the Smoot-Hawley tariff of 1930 do?
The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was a law that implemented protectionist trade policies in the United States. The act raised US tariffs on over 20,000 imported goods.
Which of the following were effects of the Smoot-Hawley tariff?
Smoot-Hawley contributed to the early loss of confidence on Wall Street and signaled U.S. isolationism. By raising the average tariff by some 20 percent, it also prompted retaliation from foreign governments, and many overseas banks began to fail.
What did investors fear as a result of the Smoot Hawley Tariff Act?
What did investors fear as a result of the Smoot-Hawley Tariff Act?
What effect did the 1930 Smoot-Hawley Tariff Act have on international trade quizlet?
What was one effect of the Smoot-Hawley Tariff Act? It increased global economic instability. speculation in stocks that made values unstable.
What was the purpose of Hawley-smooth Tariff of 1930?
The primary purpose of the Hawley-Smoot Tariff of 1930 was to raise tariffs on imports to the United States in an effort to protect domestic jobs. It was widely seen as a failure, however. Another question on History
What was the smooth Hawley Tariff of 1930?
Smoot-Hawley Tariff Act, formally United States Tariff Act of 1930, also called Hawley-Smoot Tariff Act, U.S. legislation (June 17, 1930) that raised import duties to protect American businesses and farmers, adding considerable strain to the international economic climate of the Great Depression.
What was the outcome of the Smoot-Hawley Tariff?
The Smoot-Hawley Tariff had the direct effect of foreign countries refusing to buy American goods. The Smoot-Hawley Tariff only worsened the Great Depression. The Smoot-Hawley Tariff incredibly raised taxes that greatly reduced the flow of imports and exports to America in the attempt to protect farmers.
What are the protectionism in 1930s?
he Great Depression of the 1930s was marked by a severe outbreak of protectionist trade policies. Governments around the world imposed tariffs, import quotas, and exchange controls to restrict spending on foreign goods. These trade barriers contributed to a sharp contraction in world trade in the early 1930s beyond the economic