😒The 1930s Smoot–Hawley Tariff Act named after two Republicans, Willis C. Hawley and Reed Smoot. It help drive the US recession into the "Great Depression". No other Economist nor Republican has been stupid enough to repeat that mistake until Trump. | Democracy Dies in Darkness
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😒The 1930s Smoot–Hawley Tariff Act named after two Republicans, Will…
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What was the Smoot-Hawley Tariff Act of 1930? What to know about retaliatory tariffs
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The Smoot-Hawley Tariff Act of 1930 raised U.S. import duties with the goal of protecting American farmers and businesses from foreign competition. The Smoot-Hawley Tariff Act is now widely blamed for worsening the severity of the Great Depression in the U.S. and around the world. In May 1930, Canada, the country’s most loyal trading partner, retaliated by imposing new tariffs on 16 products that accounted altogether for around 30% of US exports to Canada. Canada later also forged closer economi
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