Smoot-Hawley Act

(redirected from Smoot-Hawley Tariff Act of 1930)

Smoot-Hawley Act

Legislation in the United States, passed in 1930, that raised tariffs on thousands of imports. The idea behind the Act was to protect American jobs, especially those of farmers, from cheap imports. However, the Act is considered to have been a failure because it led to retaliatory measures in foreign countries, which reduced U.S. exports. Some economists consider the Act to have been a contributing cause to the depth of the Great Depression. See also: NAFTA, Trade war.
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asp) Smoot-Hawley Tariff Act of 1930 , which (http://www.
Critics then and since have accused Hoover of contributing to the Depression by rejecting the advice of more than a thousand economists and signing the pork-laden Smoot-Hawley Tariff Act of 1930, which raised tariffs on numerous imported manufacturing and agricultural items.
They examine the origins of the American Smoot-Hawley Tariff Act of 1930, first-class passenger ship fares between Britain and New York City from the 1820s to the outbreak of World War I, the American savings and loan meltdown of 1986-1995, investor responses to monetary and fiscal reforms adopted in the wake of an Ottoman government default in 1875, and the behavior of inflation expectations in the early 1930s in the US.
Electrification, tractorization and motorization: revisiting the Smoot-Hawley tariff act of 1930.
Economic protectionism was Republican Party orthodoxy for almost a century after the Civil War; the Smoot-Hawley tariff act of 1930 carried protectionism to a level unlikely to be reached in any conceivable future.
Global trade fell by some 60% from 1929 to 1932, as major economies turned inward and embraced protectionist trade policies, such as America's infamous Smoot-Hawley Tariff Act of 1930.
The Smoot-Hawley Tariff Act of 1930 could be the best-known piece of Congressional legislation.
True, Hoover signed the Smoot-Hawley Tariff Act of 1930, raising rather than lowering tariffs in response to the Great Depression and thus devastating Latin American economies that depended heavily on their exports to the United States.
The first big step toward a restrictive trade era was the enactment in the United States of the Smoot-Hawley Tariff Act of 1930, which raised tariffs by 20 percent.
This observation is hardly new; the debate over free trade came to a head just before the passage of the Smoot-Hawley Tariff Act of 1930, (9) which put a serious kibosh on international exchange.
The frozen food industry has opposed the proposed regulation, saying that the Smoot-Hawley Tariff Act of 1930 already requires frozen produce to be labeled with its country-of-origin.