Smoot–Hawley Tariff Act
The Tariff Act of 1930 (codified at 19 U.S.C. ch.4 ), otherwise known as the Smoot-Hawley Tariff or Hawley-Smoot Tariff, was an act, sponsored by Senator Reed Smoot and Representative Willis C. Hawley, and signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels.
The overall level tariffs under the Tariff were the second-highest in U.S. history, exceeded by a small margin only by the Tariff of 1828. The act, and the ensuing retaliatory tariffs by U.S. trading partners, reduced American exports and imports by more than half.
Read more about Smoot–Hawley Tariff Act: Sponsors and Legislative History, Opponents, Retaliation, Tariff Levels, Economic Effects, End of The Tariffs, Presence in Modern Political Dialogue, Popular Culture
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