The Smoot-Hawley Act
in the US, implementing protectionist trade policies, was signed into law on June 17, 1930.
Herbert Hoover signed the Smoot-Hawley Act
, which raised tariffs to record levels on more than 20,000 imported goods.
While few, if any, observers expect a rewrite of the Smoot-Hawley Act
, some protectionist policies could emerge.
Protectionism spread like wildfire around the world after the United States passed the infamous Smoot-Hawley Act
protectionism--actually the straw that broke the back of protectionism--came in 1930 when, in the teeth of the Great Depression, Congress passed the Smoot-Hawley Act
, a veritable orgy of unpatterned and unprincipled tariff increases that were the highest in the history of the United States.
I've joked with colleagues that if I put in the Smoot-Hawley Act
today, we could find a number of representatives who would co-sponsor it before they realized it was the same bill that helped set off a worldwide depression.
4) The Smoot-Hawley Act
of 1930, perhaps the most infamous tariff in U.
trade policy - from trade protection to trade liberalization - in the early 1930s, Rhodes advocates the well-known "Congress sees the light" hypothesis: upon experiencing the disastrous consequences of the protectionist Smoot-Hawley Act
of 1930, Congress began to understand that it would have to lower U.
A short three years later, Portland was already considering an airport expansion when a petulant Congress passed a motley collection of trade tariffs known as the Smoot-Hawley Act
, edging the world toward the Great Depression, and ultimately, the Second World War.
In an effort to shore up domestic business, Congress passed, and President Hoover signed into law, the Smoot-Hawley Act
, restricting imports.
A traditional trade war with each country raising across-the-board tariffs is a historical relic--there will be no new Smoot-Hawley Act