What is the Smoot-Hawley Tariff and what was its effect?
What is the Smoot-Hawley Tariff and what was its effect?
Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act raised US tariffs on over 20,000 imported goods. Economists and economic historians have a consensus view that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression.
What was the Hawley-Smoot Tariff quizlet?
The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), otherwise known as the Smoot-Hawley Tariff or Hawley-Smoot Tariff, was an act sponsored by Senator Reed Smoot and Representative Willis C. Hawley and signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels.
What was the Hawley-Smoot Tariff meant to accomplish and what was its end result?
What was the Hawley-Smoot Tariff meant to accomplish, and what was its end result? Congress passed the Hawley-Smoot Tariff to encourage consumption of American goods by taxing foreign-made goods. Why did President Roosevelt propose increasing the number of justices on the United States Supreme Court?
What was the result of the Hawley-Smoot Tariff Act?
The Smoot-Hawley Act increased tariffs on foreign imports to the U.S. by about 20%. At least 25 countries responded by increasing their own tariffs on American goods. Global trade plummeted, contributing to the ill effects of the Great Depression.
What was the problem with the Hawley Smoot Tariff quizlet?
The Hawley-Smoot Tariff wast enacted in 1930. This treaty raised tariffs on many imported goods. Many American trading partners retaliated in response to this tariff. The Hawley-Smoot Tariff might have even worsened the Great Depression.
What was the impact of the Hawley Smoot Tariff quizlet?
What was one effect of the Smoot-Hawley Tariff Act? It increased global economic instability. speculation in stocks that made values unstable.
How did Europe respond to the Hawley Smoot Tariff?
THE European response to the signing by President Hoover of the Hawley-Smoot Tariff Act was disapproval–immediate, undisguised and unanimous.