The Smoot-Hawley Tariff Act of June 1930 raised U.S. tariffs to historically high levels. The original intention behind the legislation was to increase the protection afforded domestic farmers against foreign agricultural imports.
What did the Hawley-Smoot Tariff do quizlet?
The Smoot-Hawley Tariff Act goal was to increase U.S. farmer protection against agricultural imports. Once other sectors caught wind of these changes, a large outcry to incrase tariffs in all sectors of the economy followed. The increase in this tariff added economic strain to countries during the Great Depression.
What was the Hawley-Smoot Tariff meant to accomplish?
Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act raised US tariffs on over 20,000 imported goods. An Act To provide revenue, to regulate commerce with foreign countries, to encourage the industries of the United States, to protect American labor, and for other purposes.
How did the Hawley-Smoot Tariff make the Depression worse quizlet?
How did the Hawley-Smoot Tariff make the Depression worse? The Hawley-Smoot Tariff helped destroy European markets for American goods. Which of the following was a contributing factor to the spread of the Depression around the world? Germany ceased reparation payments.
Which best describes the effects of the Smoot Hawley tariff?
Which statement describes an effect of the Smoot-Hawley Tariff Act of 1930? Countries retaliated against the U.S. by raising their own tariffs. the crisis led to the end of government regulation of the economy.
How did the Hawley Smoot Tariff affect the Great Depression?
Eighty four years ago on this day President Hoover signed the now-infamous Smoot-Hawley tariff bill, which substantially raised U.S. tariffs on some 890 products. Other countries retaliated and world trade shrank enormously; by the end of 1934 world trade had plummeted some 66 percent from the 1929 level.
What was the purpose of the Hawley Smoot Tariff and how did it affect American global trade?
Understanding the Smoot-Hawley Tariff Act
The goal was to protect American farmers who were most affected by the Great Depression. However, it raised the prices of food and other items. Other countries retaliated with their respective tariff hikes, forcing global trade to decline by 65%.