Smoot-Hawley Tariff Act of 1930

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Smoot-Hawley Tariff Act of 1930
Smoot-Hawley Tariff Act of 1930
https://doi.org/10.3735/9781968349172.book-part-43

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Abstract

Begun as an effort by President Herbert Hoover to aid struggling American farmers, the Smoot-Hawley Act was passed by Congress and signed into law on June 17, 1930. The act, championed by protectionists and isolationists within the Republican Party, raised duties on over 20,000 imported goods, some as high as 50–60 percent. As a result, foreign nations retaliated with tariffs on American goods. The construction of these trade barriers reduced global trade by 65 percent.

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