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The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, [1] was a law that implemented protectionist trade policies in the United States. Sponsored by Senator Reed Smoot and Representative Willis C. Hawley, it was signed by President Herbert Hoover on June 17, 1930.
The Tariff Act of 1930, commonly known as the Smoot–Hawley Tariff, implemented protectionist trade policies, was signed by President Hoover on June 17, 1930. The act raised US tariffs on over 20,000 imported goods. [ 14 ]
The 1930 State of the Union Address was delivered by President Herbert Hoover on December 2, 1930, in the second year of his presidency and during the early stages of the Great Depression. Hoover focused on the government's response to the economic crisis, which included promoting voluntary cooperation between businesses, labor, and government ...
High duties made more reappearances after McKinley, to be sure — notably when President Herbert Hoover signed into law the Smoot-Hawley Tariff Act of 1930. Hoover is another president who comes ...
Hoover was elected president in 1928. The stock market crashed in 1929. In 1930, the president signed the Smoot-Hawley Tariff Act into law. Over 1,000 economists signed a petition against the ...
During the special session of Congress in 1929, Hoover also sought to raise tariffs on agricultural products, but opposition from eastern senators delayed action on the tariff until 1930. [32] Hoover hoped that the Federal Farm Board would become the agricultural equivalent of the Federal Reserve Board, in that it would help control supply and ...
The Smoot–Hawley Tariff Act was instituted by Senator Reed Smoot and Representative Willis C. Hawley, and signed into law by President Hoover, to raise taxes on American imports by about 20 percent during June 1930. This tax, which added to already shrinking income and overproduction in the U.S., only benefitted Americans in having to spend ...
However, the market had partially rebounded in the first half of 1930, before President Herbert Hoover signed into law the Smoot-Hawley tariff act in June of that year. That act increased tariffs ...