USA HISTORY

Detailed explanation-1: -Smoot-Hawley Tariff Act, formally United States Tariff Act of 1930, also called Hawley-Smoot Tariff Act, U.S. legislation (June 17, 1930) that raised import duties to protect American businesses and farmers, adding considerable strain to the international economic climate of the Great Depression.

Detailed explanation-2: -The Smoot-Hawley Tariff Act of 1930 was enacted to protect U.S. farmers from foreign competition by increasing tariffs on certain foreign goods. It was also purposed to offer protections to other industries from foreign competitors.

Detailed explanation-3: -The Act and tariffs imposed by America’s trading partners in retaliation were major factors of the reduction of American exports and imports by 67% during the Depression. Economists and economic historians have a consensus view that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression.

Detailed explanation-4: -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.

Detailed explanation-5: -Answer and Explanation: The Hawley-Smoot Tariff Act had disastrous repercussions on the economy it was intended to safeguard. European countries reacted to the increased import duties by raising their own. Global trade decreased, and international economies became weaker.