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[12] [13] Automobile executive Henry Ford also spent an evening at the White House trying to convince Hoover to veto the bill, calling it "an economic stupidity", [14] while J. P. Morgan's Chief Executive Thomas W. Lamont said he "almost went down on [his] knees to beg Herbert Hoover to veto the asinine Hawley–Smoot tariff". [15]
He soon imposed tariffs on steel (25%) and aluminum (10%) from most countries. [37] [38] On June 1, 2018, this was extended on the European Union, Canada, and Mexico. [38] Separately, on May 10, the Trump administration set a tariff of 25% on 818 categories of goods imported from China worth $50 billion (~$59.8 billion in 2023). [39]
Hoover, Herbert. An American Epic: Vol. I: The Relief of Belgium and Northern France, 1914–1930 (1959) text search; Hoover, Herbert. The Memoirs of Herbert Hoover: Years of Adventure, 1874–1920 (1951) pp 152–237; Hunt, Edward Eyre. War Bread: A Personal Narrative of the War and Relief in Belgium (New York: Holt, 1916.) online
At the conclusion of its seventh and penultimate rate-setting policy meeting of 2024 on November 7, 2024, the Federal Reserve announced it was lowering the federal funds target interest rate by 25 ...
June 25, 1868: Vetoed H.R. 1058, an act to admit the States of North Carolina, South Carolina, Louisiana, Georgia, Alabama, and Florida, to representation in Congress. Overridden by House on June 25, 1868, 108–38 (94 votes needed). Overridden by Senate on June 25, 1868, 35–8 (29 votes needed). Enacted over the president's veto (15 Stat. 73).
Henry Clay's "American System," devised in the burst of nationalism that followed the War of 1812, remains one of the most historically significant examples of a government-sponsored program to harmonize and balance the nation's agriculture, commerce, and industry. This "System" consisted of three mutually reinforcing parts: a tariff to protect ...
Herbert Hoover Jr., on the cover of Time, July 14, 1930. In 1928, Herbert Jr was hired by Western Air Express to set up its communications system. [8] Over the next year and a half, he set up a network of stations across the Western U.S. capable of guiding radio-equipped aircraft along 15,000 miles of airways. [8]
From January 2008 to December 2012, if you bought shares in companies when Hans-Joachim Koerber joined the board, and sold them when he left, you would have a 1.4 percent return on your investment, compared to a -2.8 percent return from the S&P 500.