USA HISTORY

Detailed explanation-1: -The Smoot-Hawley Tariff Act of 1930 raised U.S. import duties with the goal of protecting American farmers and other industries 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.

Detailed explanation-2: -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.

Detailed explanation-3: -Those who blame Smoot-Hawley counter that the drop in exports was significant. From 1929 to 1933 American exports declined from about $5.2 billion to $1.7 billion, and the impact was concentrated on agricultural products such as wheat, cotton and tobacco.

Detailed explanation-4: -It did not work, and the United States sank deeper into the Great Depression.” This amusing scene managed to omit the U.S. Senate, but it was on June 13, 1930, that the Senate passed the Smoot-Hawley Tariff, among the most catastrophic acts in congressional history. How did this happen?

Detailed explanation-5: -In June 1930, the Smoot-Hawley Tariff Act increased U.S. tariffs on agricultural imports and more than 20, 000 imported goods. The tariffs imposed were the second-highest in American history. The goal was to protect American farmers who were most affected by the Great Depression.