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yellowcanine

(36,351 posts)
6. Has he announced his "Spokesperson for Tariffs" yet?
Tue Oct 15, 2024, 01:24 PM
Oct 15
https://www.google.com/search?

Sir, I nominate Mr. Smoot-Hawley.

q=smoot+hawley+tariff&oq=Smoot+Hawley&gs_lcrp=EgZjaHJvbWUqDQgBEAAYgwEYsQMYgAQyDQgAEAAYgwEYsQMYgAQyDQgBEAAYgwEYsQMYgAQyDQgCEAAYgwEYsQMYgAQyBwgDEAAYgAQyBwgEEAAYgAQyBwgFEAAYgAQyBwgGEAAYgAQyBwgHEAAYgAQyBwgIEAAYgAQyBwgJEAAYgATSAQkzOTk4NmowajeoAgiwAgE&sourceid=chrome&ie=UTF-8
The Smoot-Hawley Tariff Act was a law passed in 1930 that increased import duties in the United States to protect American businesses and farmers. The law was named after its sponsors, Senator Reed Smoot of Utah and Representative Willis C. Hawley of Oregon.
The Smoot-Hawley Tariff had many consequences, including:
Frozen international trade: The tariff made it difficult for countries to trade with the United States.
Increased the Great Depression: The tariff contributed to the worsening of the Great Depression.
Political consequences: The tariff was driven by political considerations, not economic ones.
Damaged Hoover's standing: The tariff damaged President Herbert Hoover's standing with the progressives in his own party.
The Smoot-Hawley Tariff was the last time that Congress set actual tariff rates. After the Smoot-Hawley Tariff, trade agreements led by the President became the norm.

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