Smoot-Hawley tarrif
By Ruben Garcia
Define:
The Smoot- Hawley tariff tried to help the economy of the United States by raising taxes of imported goods to help promote trade within the country.
Detail:
- The USA main goal was to protect American jobs from foreign competition. Senator Reed Smoot and Representative Willis C. Hawley proposed a tariff that would increase taxes in imported goods to increase trade within the nation.
- The tax raised taxes in imported goods, and at first it succeeded in increasing trade within the country, but then foreign countries raised their taxes in imported goods. The result was in the fail of the tariff, and worsen the state of the United States.
- The tariff caused the great depression to lengthen.
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