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Smoot–Hawley Tariff Act

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represented only about 9% of world economic output. If all international trade had been eliminated and no domestic use found for previously exported goods, world GDP would have fallen by the same amount: 9 percent. Between 1930 and 1933, the volume of world trade fell by between a third and a half. Depending on how the drop is measured, this equates to between 3 and 5 percent of global GDP, and these losses were partially offset by more expensive domestic goods. Thus, the damage caused could not have exceeded 1 or 2 percent of global GDP, or even close to the 17 percent drop seen during the Great Depression... The inescapable conclusion: Contrary to public perception, Smoot–Hawley did not cause, or even significantly deepened, the Great Depression.
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countries have experienced, we would have seen the opposite". "Finally, the chronology of events does not correspond to the thesis of the free traders... The bulk of the contraction of trade occurred between January 1930 and July 1932, that is, before the introduction of protectionist measures, even self-sufficient, in some countries, with the exception of those applied in the United States in the summer of 1930, but with negative effects. very limited. He noted that "the credit crunch is one of the main causes of the trade crunch." "In fact, international liquidity is the cause of the trade contraction. This liquidity collapsed in 1930 (−35.7%) and 1931 (−26.7%). A study by the
340: 54: 626: 674:, since exports and imports will decrease equally, for everyone, the negative effect of a decrease in exports will be offset by the expansionary effect of a decrease in imports. Therefore, a trade war does not cause a recession. Furthermore, he points out that the Smoot–Hawley tariff did not cause the Great Depression. The decline in trade between 1929 and 1933 "was almost entirely a consequence of the Depression, not a cause. Trade barriers were a response to the Depression, partly as a consequence of deflation." 663:, the period before the crisis in Europe can be considered to have been preceded by trade liberalization. The weighted average of tariffs applied to manufactured products remained practically the same as in the years before the First World War: 24.6% in 1913, compared to 24.9% in 1927. In addition, in 1928 and 1929, tariffs were reduced in almost all developed countries. Additionally, the Smoot–Hawley Tariff Act was signed by Hoover on June 17, 1930, while the Wall Street Crash occurred in the fall of 1929. 463: 3250: 805:
that only seven nations had a lower tariff level than the United States (5.1%), and eleven nations had free and dutiable tariff rates higher than the Smoot–Hawley peak of 19.8% including the United Kingdom (25.6%). The 43-country average was 14.4%, which was 0.9% higher than the U.S. level of 1929, demonstrating that few nations were reciprocating in reducing their levels as the United States reduced its own.
377:. Another contributing factor to economic growth was motorcars, trucks, and tractors replacing horses and mules. One sixth to one quarter of farmland, which had been devoted to feeding horses and mules, was freed up, contributing to a surplus in farm produce. Although nominal and real wages had increased, they did not keep up with the 366:, and to move in the opposite direction." Vast debts and reparations could be repaid only through gold, services, or goods, but the only items available on that scale were goods. However, many of the delegates' governments did the opposite; in 1928, France was the first by passing a new tariff law and quota system. 801:(GATT) moved more quickly, with an agreement signed in October 1947; in the end, the United States never signed the ITO agreement. Adding a multilateral "most-favored-nation" component to that of reciprocity, the GATT served as a framework for the gradual reduction of tariffs over the subsequent half century. 873:
or/and indentured labor under penal sanctions shall not be entitled to entry at any of the ports of the United States" with a specific exception known as the "consumptive demand exception", which allowed forced labor-based imports of goods where United States domestic production was not sufficient to
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Postwar changes to the Smoot–Hawley tariffs reflected a general tendency of the United States to reduce its tariff levels unilaterally while its trading partners retained their high levels. The American Tariff League Study of 1951 compared the free and dutiable tariff rates of 43 countries. It found
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Threats of retaliation by other countries began long before the bill was enacted into law in June 1930. As the House of Representatives passed it in May 1929, boycotts broke out, and foreign governments moved to increase rates against American products, although rates could be increased or decreased
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explains that a tariff is an expansive policy, like a devaluation, since it diverts demand from foreign to domestic producers. He points out that exports represented 7% of the GNP in 1929, fell by 1.5% of the GNP of 1929 in the following two years and the fall was offset by the increase in domestic
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Jacques Sapir explains that the crisis has other causes than protectionism. He points out that "domestic production in major industrialized countries is declining...faster than international trade is declining." If this decrease (in international trade) had been the cause of the depression that the
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In the two-volume series published by the US Bureau of the Census, "The Historical Statistics of the United States, Colonial Times to 1970, Bicentennial Edition", tariff rates have been represented in two forms. The dutiable tariff rate peak of 1932 was 59.1%, second only to the 61.7% rate of 1830.
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Most of the decline in trade was due to a plunge in GDP in the US and worldwide. However, beyond that was additional decline. Some countries protested and others also retaliated with trade restrictions and tariffs. American exports to the protesters fell 18% and exports to those who retaliated fell
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The House passed a version of the act in May 1929, increasing tariffs on agricultural and industrial goods alike. The House bill passed on a vote of 264 to 147, with 244 Republicans and 20 Democrats voting in favor of the bill. The Senate debated its bill until March 1930, with many members trading
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US imports decreased 66% from $ 4.4 billion (1929) to $ 1.5 billion (1933), and exports decreased 61% from $ 5.4 billion to $ 2.1 billion. GNP fell from $ 103.1 billion in 1929 to $ 75.8 billion in 1931 and bottomed out at $ 55.6 billion in 1933. Imports from Europe decreased from a 1929 high of $
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While Hoover joined the economists in opposing the bill, calling it "vicious, extortionate, and obnoxious" because he felt it would undermine the commitment he had pledged to international cooperation, he eventually signed the bill after he yielded to influence from his own party, his Cabinet (who
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of 1934. This act allowed the President to negotiate tariff reductions on a bilateral basis and treated such a tariff agreement as regular legislation, requiring a majority, rather than as a treaty requiring a two-thirds vote. This was one of the core components of the trade negotiating framework
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Between 1929 and 1932, real GDP fell 17% worldwide, and 26% in the United States, but most economic historians now believe that only one A minuscule part of that huge loss in both world GDP and US GDP can be attributed to tariff wars. ... At the time of Smoot–Hawley's passage, the volume of trade
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However, 63% of all imports in 1933 were not taxed, which the dutiable tariff rate does not reflect. The free and dutiable rate in 1929 was 13.5% and peaked under Smoot–Hawley in 1933 at 19.8%, one-third below the average 29.7% "free and dutiable rate" in the United States from 1821 to 1900.
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in late 1929, the main goal of the US was to protect its jobs and farmers from foreign competition. Smoot championed another tariff increase within the United States in 1929, which became the Smoot–Hawley Tariff Bill. In his memoirs, Smoot made it abundantly
388:, and although manufactured goods imports were rising, manufactured exports were rising even faster. Food exports had been falling and were in trade account deficit, but the value of food imports were a little over half of the value of manufactured imports. 735:
Unemployment was 8% in 1930 when the Smoot–Hawley Act was passed, but the new law failed to lower it. The rate jumped to 16% in 1931 and 25% in 1932–1933. There is some contention about whether this can necessarily be attributed to the tariff, however.
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In May 1930, Canada, the country's most loyal trading partner, retaliated by imposing new tariffs on 16 products that accounted altogether for around 30% of US exports to Canada. Canada later also forged closer economic links with the
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The depression worsened for workers and farmers despite Smoot and Hawley's promises of prosperity from high tariffs; consequently, Hawley lost re-nomination, while Smoot was one of 12 Republican Senators who lost their seats in the
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writes that protectionism does not lead to recessions. According to him, the decrease in imports (which can be obtained by introducing tariffs) has an expansive effect, that is, it is favorable to growth. Thus, in a
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then unified the two versions, largely by raising tariffs to the higher levels passed by the House. The House passed the conference bill on a vote of 222 to 153, with the support of 208 Republicans and 14 Democrats.
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H.R. 1903 (114th): To amend the Tariff Act of 1930 to eliminate the consumptive demand exception to prohibition on importation of goods made with convict labor, forced labor, or indentured labor, and for other
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1.3 billion to just $ 390 million during 1932, and US exports to Europe decreased from $ 2.3 billion in 1929 to $ 784 million in 1932. Overall, world trade decreased by some 66% between 1929 and 1934.
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highlights the predominant influence of currency instability (which led to the international liquidity crisis) and the sudden rise in transportation costs in the decline of trade during the 1930s.
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by the Senate or by the conference committee. By September 1929, Hoover's administration had received protest notes from 23 trading partners, but the threats of retaliatory actions were ignored.
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Estevadeordal, Antoni; Frantz, Brian; Taylor, Alan M. (November 2002). The Rise and Fall of World Trade, 1870–1939 (Report). Cambridge, MA: National Bureau of Economic Research.
3704: 4200: 1289:"1,028 Economists Ask Hoover To Veto Pending Tariff Bill: Professors in 179 Colleges and Other Leaders Assail Rise in Rates as Harmful to Country and Sure to Bring Reprisals" 720:, "Factory payrolls, construction contracts, and industrial production all increased sharply." However, larger economic problems loomed in the guise of weak banks. When the 64:
An Act To provide revenue, to regulate commerce with foreign countries, to encourage the industries of the United States, to protect American labor, and for other purposes.
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made news when, during a speech, she referred to the Smoot–Hawley Tariff as "the Hoot–Smalley Act", misattributed its signing to Franklin Roosevelt, and blamed it for the
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The years 1920 to 1929 are widely described, incorrectly, as years in which protectionism gained ground in Europe. In fact, from a general point of view, according to
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Prior to 2016, the Tariff Act provided that "ll goods, wares, articles, and merchandise mined, produced, or manufactured wholly or in part in any foreign country by
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Mitchener, Kris James, Kirsten Wandschneider, and Kevin Hjortshøj O'Rourke. "The Smoot–Hawley Trade War" (No. w28616. National Bureau of Economic Research, 2021)
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U.S. imports for consumption, duties collected, and ratio of duties to value, 1891–2016. U.S. imports for consumption under tariff preference programs, 1976–2016
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After World War II, that understanding supported a push towards multilateral trading agreements that would prevent similar situations in the future. While the
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Nations other than Canada that enacted retaliatory tariffs included: Cuba, Mexico, France, Italy, Spain, Argentina, Australia, New Zealand, and Switzerland.
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votes based on their states' industries. The Senate bill passed on a vote of 44 to 42, with 39 Republicans and 5 Democrats voting in favor of the bill. The
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Senator Smoot contended that raising the tariff on imports would alleviate the overproduction problem, but the United States had actually been running a
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Archibald, Robert B.; Feldman, David H. (1998), "Investment During the Great Depression: Uncertainty and the Role of the Smoot–Hawley Tariff",
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In May 1930, a petition was signed by 1,028 economists in the United States asking President Hoover to veto the legislation, organized by
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of 1932, while France and Britain protested and developed new trade partners, and Germany developed a system of trade via clearing.
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writes: "Most economists, liberal and conservative alike, doubt that Smoot Hawley had much to do with the subsequent contraction."
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McDonald, Judith; O'Brien, Anthony Patrick; Callahan, Colleen (1997), "Trade Wars: Canada's Reaction to the Smoot–Hawley Tariff",
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demand due to tariffs. He concludes that, contrary to popular argument, the contractionary effect of the tariff was small.
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of 1944 focused on foreign exchange and did not directly address tariffs, those involved wanted a similar framework for
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Crucini, Mario J.; Kahn, James (1996), "Tariffs and Aggregate Economic Activity: Lessons from the Great Depression",
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In retaliation, Canada and other countries raised their own tariffs on American goods after the bill had become law.
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Koyama, Kumiko (2009), "The Passage of the Smoot–Hawley Tariff Act: Why Did the President Sign the Bill?",
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Madsen, Jakob B. (2001), "Trade Barriers and the Collapse of World Trade during the Great Depression",
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Crucini, Mario J. (1994), "Sources of variation in real tariff rates: The United States 1900 to 1940",
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said he "almost went down on knees to beg Herbert Hoover to veto the asinine Hawley–Smoot tariff".
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The average tariff rate on dutiable imports increased from 40.1% in 1929 to 59.1% in 1932 (+19%).
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Kottman, Richard N. (1975), "Herbert Hoover and the Smoot–Hawley Tariff: Canada, A Case Study",
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was also of the opinion that the 1930 Smoot–Hawley Tariff did not cause the Great Depression.
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in April 1929, shortly before the Smoot–Hawley Tariff Act passed the House of Representatives
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The Historical Statistics of the United States, Colonial Times to 1970, Bicentennial Edition
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met at Geneva in 1927, concluding in its final report: "the time has come to put an end to
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launched this process in November 1945 with negotiations for the creation of a proposed
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By the late 1920s, the US economy had made exceptional gains in productivity because of
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The Age of Giant Corporations: A Microeconomic History of American Business, 1914–1970
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trying to convince Hoover to veto the bill, calling it "an economic stupidity", while
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calling FATCA "the worst economic idea to come out of Congress since Smoot–Hawley".
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failed in 1931, the global deficiencies of the Smoot–Hawley Tariff became apparent.
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campaign platform pledged to lower tariffs. After winning the election, President
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Changing Differences: Women and the Shaping of American Foreign Policy, 1917–1994
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Mitchener, Kris James; Wandschneider, Kirsten; O'Rourke, Kevin Hjortshøj (2021),
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Mitchener, Kris James; O'Rourke, Kevin Hjortshøj; Wandschneider, Kirsten (2022).
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and for its failure to adjust purchasing power to productive capacity during the
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The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance
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below), were the second highest in United States history, exceeded by only the
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1930 U.S. trade law placing and raising tariffs on tens of thousands of imports
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mentioned the Smoot–Hawley Tariff as a response to NAFTA objections voiced by
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Imports during 1929 were only 4.2% of the US GNP, and exports were only 5.0%.
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The world is paying for its ruthless destruction of life and property in the
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Table: Series U207-212 (Part 2 ZIP file: file named CT1970p2-08.pdf).
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Congress and the Politics of U.S. Foreign Economic Policy, 1929–1976
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At first, the tariff seemed to be a success. According to historian
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U.S. Bureau of the Census; Social Science Research Council (1960),
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Section 307 of the Tariff Act of 1930, quoted in Altschuller, S.,
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Historical Statistics of the United States, Colonial Times to 1957
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Historical Statistics of the United States: Colonial Times to 1957
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U.S. Congress Finally Eliminates the Consumptive Demand Exception
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spoke against the act during his campaign for President in 1932.
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Mass Production, the Stock Market Crash and the Great Depression
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Opening America's Market: U.S. Foreign Trade Policy since 1776
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Opening America's Market: U.S. Foreign Trade Policy Since 1776
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Peddling Protectionism: Smoot–Hawley and the Great Depression
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Peddling Protectionism: Smoot–Hawley and the Great Depression
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Dave Barry Slept Here: a sort of history of the United States
2287:(1989), "The Political Economy of the Smoot–Hawley Tariff", 1961:. The Devin-Adair Co., 1955, Appendix, Table VI, pp. 188–189 319:
The tariffs under the act, excluding duty-free imports (see
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Turney, Elaine C. Prange; Northrup, Cynthia Clark (2003),
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Irwin, Douglas A.; Randall S. Kroszner (December 1996).
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Office of Analysis and Research Services (March 2017),
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meet consumer demand. The exception was removed under
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As the global economy entered the first stages of the
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Carnegie-Rochester Conference Series on Public Policy
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Birthplace and childhood home National Historic Site
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Roosevelt 1592:Economics and World History: Myths and Paradoxes 166:in the House of Representatives as H.R. 2667 by 1722:A Splendid Exchange: How trade shaped the world 697: 3980: 3281: 2691: 2613:(8th ed.), New York: G. P. Putnam's Sons 2088:, 16 February 2016, accessed 22 November 2020 1641: 1639: 1390: 1388: 1199: 1197: 1195: 907:It is also heavily featured in the 2009 book 797:As it happened, separate negotiations on the 8: 2574:, Berkeley: University of California Press, 1887:"Graph of U.S. Unemployment Rate, 1930–1945" 1473:Brown, Wilson B.; Hogendorn, Jan S. (2000). 1367:, New York: Atlantic Monthly Press, p.  1263: 1261: 1259: 1257: 1178:. Logan, UT: Utah State Press. p. 340. 46: 3061:Presidential Library, Museum, and gravesite 1698:. Princeton University Press. p. 116. 1045:Eckes, Alfred E. Jr.; Market, O.A. 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Westport: Greenwood Press. pp.  853:(FATCA), with Andrew Quinlan from the 849:The act has been compared to the 2010 799:General Agreement on Tariffs and Trade 45: 4196:Great Depression in the United States 1851: 1839: 1567: 1565: 1558:, U.S. International Trade Commission 1544: 1542: 7: 3159:Republican National Convention, 1920 1924:Harry S. Truman Library & Museum 1007: 1005: 680:National Bureau of Economic Research 312:on June 17, 1930. The act raised US 38:List of tariffs in the United States 2731:United States Secretary of Commerce 1426:Steward, James B. (March 8, 2018). 838:In April 2009, then-Representative 815:North American Free Trade Agreement 775:that developed after World War II. 655:Economic analysis of the Tariff Act 2777:Agricultural Marketing Act of 1929 2593:Politics, Pressures and the Tariff 851:Foreign Account Tax Compliance Act 639:Protectionism in the United States 596:British Empire Economic Conference 320: 110:Tooltip Public Law (United States) 42:Protectionism in the United States 25: 2622:Lessons from the Great Depression 2116:"Ferris Bueller's Day Off (1986)" 2002:Kleefeld, Eric (April 29, 2009). 1749:Lessons from the Great Depression 1514:DeSilver, Drew (March 22, 2018). 1346:. October 7, 1985. Archived from 1320:"Economists Against Smoot–Hawley" 855:Center for Freedom and Prosperity 438:House Committee on Ways and Means 373:, which was a critical factor in 3770:2021 (Infrastructure, PL 117–58) 3249: 3248: 3115:The Angel of Pennsylvania Avenue 2960:Commission for Relief in Belgium 2902:State of the Union Address, 1929 2390:American Trade Policy: 1923–1995 2139:Snow, Kirstin (March 11, 2018). 2082:Global Business and Human Rights 1959:Tariffs: The Case for Protection 1646:Sapir, Jacques (March 1, 2009). 792:International Trade Organization 635:Tariffs in United States history 495: One Nay and One Abstention 489: One Yea and One Abstention 335:Sponsors and legislative history 52: 34:Tariffs in United States history 4211:1930 in international relations 2671:Statute Compilations collection 2530:, Logan, UT: Utah State Press, 2528:Reed Smoot: Apostle in Politics 1617:Krugman, Paul (March 4, 2016). 1596:. University of Chicago Press. 1499:Jeffreys-Jones, Rhodri (1997). 1176:Reed Smoot: Apostle in Politics 1085:The Journal of Economic History 772:Reciprocal Trade Agreements Act 316:on over 20,000 imported goods. 221:on June 13, 1930 (without 2977:American Relief Administration 2722:President of the United States 2370:, Princeton University Press, 2300:Irwin, Douglas A. (May 1998). 1719:Bernstein, William J. (2008). 1159:Beaudreau, Bernard C. (1996). 1: 3107:Backstairs at the White House 2315:(2). The MIT Press: 326–334. 2259:10.1016/S0304-3932(96)01298-6 2246:Journal of Monetary Economics 1793:Jones, Joseph Marion (2003). 1300:. May 5, 1930. Archived from 1225:10.1016/s0167-2231(96)00023-1 989:WWS 543: Class notes, 2/17/10 548:also spent an evening at the 308:, it was signed by President 290:, was a law that implemented 3760:2021 (Defense Authorization) 2994:Commission for Polish Relief 2858:U.S. occupation of Nicaragua 2829:Federal Home Loan Bank Board 2626:, Cambridge, MA: MIT Press, 2289:Research in Economic History 1891:HERB: Resources for Teachers 1868:. In Whaples, Robert (ed.). 1269:"The Battle of Smoot–Hawley" 1146:The War: the root and remedy 1014:"The Smoot–Hawley Trade War" 817:(NAFTA) then-Vice President 809:In modern political dialogue 695:William J. Bernstein wrote: 3765:2021 (American Rescue Plan) 2789:Reapportionment Act of 1929 2464:Journal of Economic History 2408:Journal of American History 2392:, London: Greenwood Press, 2105:, accessed 22 November 2020 1893:, retrieved April 24, 2015. 82:71st United States Congress 4237: 3081:Herbert C. Hoover Building 2824:Federal Home Loan Bank Act 2388:Kaplan, Edward S. (1996), 1883:Bureau of Labor Statistics 1692:Irwin, Douglas A. (2017). 1648:"Ignorants ou faussaires?" 1456:The Smoot–Hawley Trade War 1094:Cambridge University Press 925:Country-of-origin labeling 632: 445:1928 presidential election 31: 4160: 4015:Wall Street Crash of 1929 3227: 2982:Russian Famine Relief Act 2794:Wall Street Crash of 1929 2713: 2595:, New York: Prentice-Hall 2500:Southern Economic Journal 2476:10.1017/S0022050700019549 2448:10.1017/S0898030609090071 2436:Journal of Policy History 2359:NBER Working Paper Series 2198:Southern Economic Journal 1619:"The Mitt–Hawley Fallacy" 1112:10.1017/S0022050700040602 768:Franklin Delano Roosevelt 483: One Yea and One Nay 360:World Economic Conference 282:), commonly known as the 263: 159: 51: 4221:1930 in economic history 2989:U.S. Food Administration 2863:U.S. occupation of Haiti 2349:Previously published as 2226:American Economic Review 1944:World Trade Organization 1338:"Shades of Smoot–Hawley" 930:Plant Patent Act of 1930 897:Ferris Bueller's Day Off 426:Senate Finance Committee 410:decade following the war 207:on March 24, 1930 ( 4020:Smoot-Hawley Tariff Act 3240:Franklin D. Roosevelt → 3138:English translation of 2834:Federal Home Loan Banks 2799:Smoot–Hawley Tariff Act 2568:Pastor, Robert (1980), 2526:Merill, Milton (1990), 2366:Irwin, Douglas (2011), 2321:10.1162/003465398557410 1174:Merill, Milton (1990). 780:Bretton Woods Agreement 544:. Automobile executive 237:on June 14, 1930 ( 219:agreed to by the Senate 182:Committee consideration 4035:Recession of 1937–1938 3894:1922: Fordney–McCumber 3035:Lou Henry Hoover House 2589:Schattschneider, E. E. 2266:Eckes, Alfred (1995), 1779:Bureau of the Census, 1588:Bairoch, Paul (1993). 1518:. Pew Research Center. 1395:Sobel, Robert (1972). 886:on February 24, 2016. 702: 630: 503: 436:, was chairman of the 414: 351: 197:on May 28, 1929 ( 178:) on April or May 1929 3755:2020 (Appropriations) 3745:2020 (Families First) 3735:2018 (Appropriations) 3220:(great-granddaughter) 3030:Hoover–Minthorn House 2965:University Foundation 2917:Judicial appointments 2890:Medicine Ball Cabinet 2618:Temin, Peter (1989), 2553:"Smoot–Hawley Tariff" 1781:Historical Statistics 1652:Le Monde diplomatique 1361:Chernow, Ron (1990), 1307:on February 27, 2008. 995:, February 16, 2010, 628: 571:Franklin D. Roosevelt 528:, James T.F.G. Wood, 501: Two Abstentions 466:Senate vote by state 465: 406:industrial revolution 398: 386:trade account surplus 342: 4191:1930 in American law 3818:1828: "Abominations" 2819:Mexican Repatriation 2171:The Arizona Republic 1350:on October 29, 2010. 1277:. December 18, 2008. 532:, Ernest Patterson, 509:conference committee 432:, a Republican from 424:and chairman of the 186:House Ways and Means 3879:1909: Payne–Aldrich 3869:1894: Wilson–Gorman 2999:Finnish Relief Fund 2950:Sons of Gwalia mine 2870:London Naval Treaty 2814:Revenue Act of 1932 2809:Economy Act of 1932 2009:Talking Points Memo 1870:EH.Net Encyclopedia 1854:, pp. 332–333. 1796:Smoot–Hawley Tariff 832:The Larry King Show 784:international trade 739:It was only during 556:'s Chief Executive 288:Hawley–Smoot Tariff 284:Smoot–Hawley Tariff 155:Legislative history 48: 18:Smoot-Hawley tariff 3899:1930: Smoot–Hawley 3798:1791: Hamilton III 3206:Herbert Hoover Jr. 3086:U.S. Postage stamp 3076:Hoover Institution 2782:Federal Farm Board 2656:Tariff Act of 1930 2563:on October 2, 2009 2551:O'Brien, Anthony, 2383:online book review 2285:Eichengreen, Barry 2066:on August 8, 2016. 2033:(April 29, 2009). 1981:Washington Monthly 1974:(April 30, 2009). 1813:on March 12, 2009. 1746:Temin, P. (1991). 1432:The New York Times 1324:Econ Journal Watch 1297:The New York Times 1031:10.1093/ej/ueac006 1024:(647): 2500–2533. 894:In the 1986 film, 890:In popular culture 631: 504: 352: 272:Tariff Act of 1930 225:, after motion to 47:Tariff Act of 1930 4178: 4177: 3962: 3961: 3803:1792: Hamilton IV 3793:1790: Hamilton II 3690:2010 (PL 111-312) 3685:2010 (PL 111–240) 3263: 3262: 3233:← Calvin Coolidge 3110:(1979 miniseries) 3004:Hoover Commission 2875:Hoover Moratorium 2377:978-0-691-15032-1 2031:Yglesias, Matthew 1759:978-0-262-26119-7 1732:978-0-8021-4416-4 1705:978-1-4008-8842-9 1603:978-0-226-03462-1 1326:. September 2007. 1058:978-0-8078-2213-5 957:, June 17, 1930, 949:ch. 497, 46  356:League of Nations 268: 267: 217:on June 9, 1930; 205:Passed the Senate 127:ch. 497, 46  122:Statutes at Large 16:(Redirected from 4228: 4216:June 1930 events 4030:Effect in cities 3996:Great Depression 3989: 3982: 3975: 3966: 3954:2018/2019: Trump 3904:1934: Reciprocal 3828:1833: Compromise 3788:1789: Hamilton I 3290: 3283: 3276: 3267: 3252: 3251: 3200:Lou Henry Hoover 3133:Freedom Betrayed 2955:Zinc Corporation 2929:Executive Orders 2880:Stimson Doctrine 2734: 2725: 2700: 2693: 2686: 2677: 2644: 2636: 2625: 2614: 2612: 2596: 2584: 2564: 2559:, archived from 2540: 2522: 2494: 2458: 2430: 2402: 2380: 2362: 2356: 2348: 2306: 2296: 2280: 2262: 2261: 2240: 2220: 2182: 2181: 2179: 2177: 2162: 2156: 2155: 2153: 2151: 2136: 2130: 2129: 2128: 2126: 2112: 2106: 2095: 2089: 2074: 2068: 2067: 2062:. Archived from 2055: 2049: 2048: 2043:. 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W. 2598: 2585: 2580: 2565: 2548: 2541: 2536: 2523: 2506:(4): 848–868, 2495: 2470:(4): 802–826, 2459: 2442:(2): 163–186, 2431: 2414:(3): 609–635, 2403: 2398: 2385: 2376: 2363: 2297: 2281: 2276: 2263: 2252:(3): 427–467, 2241: 2232:(3): 346–353, 2221: 2204:(4): 857–879, 2192: 2190: 2187: 2184: 2183: 2165:Gabriel, Jon. 2157: 2131: 2107: 2090: 2086:Foley Hoag LLP 2069: 2050: 2022: 1994: 1963: 1950: 1930: 1910: 1907:. p. 342. 1895: 1875: 1856: 1844: 1842:, p. 113. 1832: 1816: 1805: 1785: 1772: 1758: 1738: 1731: 1711: 1704: 1684: 1665: 1635: 1623:New York Times 1609: 1602: 1580: 1561: 1538: 1521: 1506: 1491: 1483: 1465: 1445: 1418: 1411: 1384: 1377: 1353: 1329: 1311: 1280: 1253: 1191: 1184: 1166: 1151: 1133: 1075:(March 1995). 1064: 1057: 1037: 1001: 981: 969: 962:19 U.S.C. 941: 940: 938: 935: 934: 933: 927: 920: 917: 891: 888: 862: 859: 827:debate in 1993 810: 807: 759: 758:End of tariffs 756: 713: 710: 656: 653: 622: 619: 604:1932 elections 592:British Empire 578: 575: 517: 514: 497: 491: 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2040:ThinkProgress 2036: 2032: 2026: 2023: 2011: 2010: 2005: 1998: 1995: 1983: 1982: 1977: 1973: 1967: 1964: 1960: 1954: 1951: 1946: 1945: 1940: 1934: 1931: 1926: 1925: 1920: 1914: 1911: 1906: 1899: 1896: 1892: 1888: 1884: 1879: 1876: 1871: 1867: 1860: 1857: 1853: 1848: 1845: 1841: 1836: 1833: 1827: 1820: 1817: 1812: 1808: 1806:0-8240-5367-2 1802: 1798: 1797: 1789: 1786: 1782: 1776: 1773: 1761: 1755: 1751: 1750: 1742: 1739: 1734: 1728: 1724: 1723: 1715: 1712: 1707: 1701: 1697: 1696: 1688: 1685: 1680: 1679:10.3386/w9318 1676: 1669: 1666: 1653: 1649: 1642: 1640: 1636: 1624: 1620: 1613: 1610: 1605: 1599: 1594: 1593: 1584: 1581: 1576: 1575: 1568: 1566: 1562: 1554: 1553: 1545: 1543: 1539: 1533: 1532: 1525: 1522: 1517: 1510: 1507: 1502: 1495: 1492: 1486: 1484:1-55111-261-2 1480: 1476: 1469: 1466: 1458: 1457: 1449: 1446: 1433: 1429: 1422: 1419: 1414: 1412:0-8371-6404-4 1408: 1404: 1400: 1399: 1391: 1389: 1385: 1380: 1378:0-87113-338-5 1374: 1370: 1366: 1365: 1357: 1354: 1349: 1345: 1344: 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652: 649: 645: 640: 636: 627: 621:Tariff levels 620: 618: 615: 613: 609: 605: 599: 597: 593: 587: 583: 576: 574: 572: 568: 565: 561: 559: 555: 551: 547: 543: 539: 538:Frank Taussig 535: 531: 527: 526:Irving Fisher 523: 515: 513: 510: 464: 460: 459:during 1928. 458: 454: 450: 446: 441: 439: 435: 431: 427: 423: 419: 413: 411: 407: 403: 397: 394: 389: 387: 382: 380: 376: 372: 367: 365: 361: 357: 349: 345: 341: 334: 332: 330: 326: 322: 321:tariff levels 317: 315: 311: 307: 304: 300: 297: 293: 292:protectionist 289: 285: 281: 277: 274:(codified at 273: 262: 257: 250: 247:by President 246: 243: 240: 236: 233:) and by the 232: 228: 224: 220: 216: 213: 210: 206: 203: 200: 196: 193: 191: 187: 183: 180: 177: 173: 169: 165: 162: 161: 158: 153: 149: 146: 142: 137: 134: 130: 126: 124: 118: 115: 108: 103: 99: 94: 90: 86: 83: 79: 75: 71: 67: 63: 59: 55: 50: 43: 39: 35: 30: 19: 4121:South Africa 4019: 3898: 3838:1846: Walker 3808:1816: Dallas 3750:2020 (CARES) 3247: 3238: 3231: 3212:Allan Hoover 3139: 3132: 3113: 3105: 3101:Hoover Field 3096:Hoover Chair 3091:Hoover Medal 3071:Hoover Tower 3056:Bibliography 3040:Rapidan Camp 2943:Other events 2798: 2762:Inauguration 2658:as amended ( 2641: 2621: 2606: 2592: 2570: 2561:the original 2556: 2527: 2503: 2499: 2467: 2463: 2439: 2435: 2411: 2407: 2389: 2367: 2358: 2312: 2308: 2292: 2288: 2267: 2249: 2245: 2229: 2225: 2201: 2197: 2174:. 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Morgan 542:Clair Wilcox 534:Henry Seager 530:Frank Graham 522:Paul Douglas 519: 505: 453:in the House 442: 416:Smoot was a 415: 399: 390: 383: 379:productivity 368: 353: 318: 287: 283: 271: 269: 244: 234: 218: 214: 204: 194: 181: 163: 139:Codification 29: 4111:Netherlands 3944:1993: NAFTA 3833:1842: Black 3725:2017 (TCJA) 3700:2012 (ATRA) 3118:(1996 film) 2934:Hoover desk 2853:Banana Wars 2841:Hooverville 2733:(1921–1928) 2724:(1929–1933) 2176:December 3, 2150:December 3, 2125:December 3, 2098:GovTrack.us 1765:January 27, 1658:January 27, 1654:(in French) 1628:January 27, 1438:November 7, 1246:January 17, 966:§ 1654 748:Monetarists 705:Peter Temin 577:Retaliation 550:White House 443:During the 346:(left) and 4185:Categories 4147:Bonus Army 4049:By country 3909:1948: GATT 3730:2018 (BBA) 3715:2015 (BBA) 3680:2010 (ACA) 3420:1940 (2nd) 3020:Early life 2895:Hooverball 2846:Bonus Army 2772:Hoover Dam 2757:Transition 2743:Presidency 1852:Irwin 1998 1840:Eckes 1995 1783:series F-1 937:References 913:Dave Barry 823:Ross Perot 764:Democratic 750:, such as 546:Henry Ford 457:the Senate 418:Republican 348:Reed Smoot 299:Reed Smoot 164:Introduced 101:Public law 61:Long title 4061:Australia 4056:Argentina 4025:Dust Bowl 3949:1994: WTO 3580:1986 Code 3480:1954 Code 3410:1939 Code 3151:Elections 2666:) in the 2492:154380335 2456:154415038 2329:0034-6535 1233:154857884 1128:145691938 1098:CiteSeerX 999:, slide 4 902:Ben Stein 876:Wisconsin 825:during a 762:The 1932 672:trade war 516:Opponents 447:, one of 402:World War 276:19 U.S.C. 96:Citations 88:Effective 69:Nicknames 4165:Category 4152:New Deal 4040:Timeline 3305:Internal 3254:Category 2748:timeline 2604:(1931), 2591:(1935), 2345:57562207 2145:pennlive 2103:purposes 1144:(1941). 919:See also 880:Ron Kind 594:via the 227:recommit 223:division 4170:Commons 4116:Romania 4086:Germany 3919:1974/75 3780:Tariffs 3550:Gas Tax 3307:Revenue 2885:Cabinet 2664:details 2520:1061574 2484:2951161 2428:2936217 2337:2646642 2238:2118081 2218:1061208 2189:Sources 1120:2123771 1096:: 144. 869:or/and 819:Al Gore 794:(ITO). 726:Austria 408:of the 381:gains. 364:tariffs 314:tariffs 296:Senator 239:222–153 229:failed 199:264–147 106:Pub. L. 4081:France 4071:Canada 4066:Brazil 4010:Causes 4003:Topics 3670:Crisis 3202:(wife) 3193:Family 3049:Legacy 2630:  2578:  2545:online 2534:  2518:  2490:  2482:  2454:  2426:  2396:  2374:  2343:  2335:  2327:  2295:: 1–43 2274:  2236:  2216:  1803:  1756:  1729:  1702:  1600:  1577:, 1960 1481:  1409:  1375:  1231:  1182:  1126:  1118:  1100:  1055:  964:  953:  540:, and 499:  493:  487:  481:  475:  469:  434:Oregon 396:clear: 145:U.S.C. 131:  114:71–361 112:  40:, and 4101:Japan 4096:Italy 4091:India 4076:Chile 3570:COBRA 3214:(son) 3208:(son) 3126:Books 2611:(PDF) 2516:JSTOR 2488:S2CID 2480:JSTOR 2452:S2CID 2424:JSTOR 2355:(PDF) 2341:S2CID 2333:JSTOR 2305:(PDF) 2234:JSTOR 2214:JSTOR 1556:(PDF) 1460:(PDF) 1403:87–88 1305:(PDF) 1292:(PDF) 1240:(PDF) 1229:S2CID 1219:: 6. 1209:(PDF) 1124:S2CID 1116:JSTOR 1092:(1). 1080:(PDF) 951:Stat. 582:31%. 420:from 280:ch. 4 278: 235:House 231:42–44 209:53–31 129:Stat. 3934:1988 3929:1984 3924:1979 3914:1962 3855:1875 3852:1872 3843:1857 3823:1832 3720:2016 3710:2014 3705:2012 3695:2011 3675:2009 3665:2008 3655:2007 3650:2006 3645:2006 3640:2005 3635:2004 3630:2003 3625:2002 3615:1998 3610:1997 3605:1996 3600:1993 3595:1990 3590:1988 3585:1987 3575:1986 3565:1984 3545:1982 3540:1981 3535:1980 3530:1978 3525:1977 3520:1976 3515:1975 3510:1971 3505:1969 3500:1968 3495:1966 3490:1964 3485:1962 3475:1954 3470:1951 3465:1950 3460:1950 3455:1948 3450:1945 3445:1944 3440:1943 3435:1943 3430:1942 3425:1941 3415:1940 3405:1937 3400:1936 3395:1935 3390:1934 3385:1932 3380:1928 3375:1926 3370:1924 3365:1921 3360:1918 3355:1917 3350:1916 3345:1914 3340:1913 3335:1909 3330:1894 3325:1864 3320:1862 3315:1861 3184:1932 3174:1940 3169:1932 3164:1928 3013:Life 2907:1930 2729:3rd 2719:31st 2628:ISBN 2576:ISBN 2532:ISBN 2394:ISBN 2372:ISBN 2325:ISSN 2272:ISBN 2178:2023 2152:2023 2127:2023 2120:IMDb 2017:2021 1989:2021 1801:ISBN 1767:2023 1754:ISBN 1727:ISBN 1700:ISBN 1660:2023 1630:2023 1598:ISBN 1479:ISBN 1440:2021 1407:ISBN 1373:ISBN 1343:Time 1248:2011 1180:ISBN 1053:ISBN 637:and 612:1980 610:and 608:1958 455:and 422:Utah 354:The 301:and 270:The 80:the 2668:GPO 2660:PDF 2508:doi 2472:doi 2444:doi 2416:doi 2317:doi 2254:doi 2206:doi 1675:doi 1369:323 1221:doi 1108:doi 1026:doi 1022:132 959:see 955:590 911:by 724:of 614:). 286:or 184:by 150:589 133:590 4187:: 2555:, 2514:, 2504:67 2502:, 2486:, 2478:, 2468:57 2466:, 2450:, 2440:21 2438:, 2422:, 2412:62 2410:, 2381:; 2357:, 2339:. 2331:. 2323:. 2313:80 2311:. 2307:. 2293:12 2291:, 2250:38 2248:, 2230:84 2228:, 2212:, 2202:64 2200:, 2169:. 2143:. 2118:, 2100:, 2080:, 2037:. 2006:. 1978:. 1941:, 1921:. 1889:, 1885:, 1650:. 1638:^ 1621:. 1564:^ 1541:^ 1430:. 1405:. 1387:^ 1371:, 1340:. 1322:. 1294:. 1271:. 1256:^ 1227:. 1217:45 1215:. 1211:. 1194:^ 1122:. 1114:. 1106:. 1090:55 1088:. 1082:. 1020:. 1016:. 1004:^ 991:, 915:. 900:, 846:. 536:, 524:, 440:. 428:. 358:' 188:, 176:OR 36:, 3988:e 3981:t 3974:v 3289:e 3282:t 3275:v 2750:) 2746:( 2699:e 2692:t 2685:v 2662:/ 2547:. 2510:: 2474:: 2446:: 2418:: 2347:. 2319:: 2256:: 2208:: 2180:. 2154:. 2019:. 1991:. 1948:. 1927:. 1872:. 1830:. 1769:. 1735:. 1708:. 1681:. 1677:: 1662:. 1632:. 1606:. 1489:. 1487:. 1442:. 1415:. 1382:. 1309:. 1250:. 1223:: 1188:. 1148:. 1130:. 1110:: 1061:. 1034:. 1028:: 979:. 412:. 241:) 211:) 201:) 174:- 172:R 170:( 20:)

Index

Smoot-Hawley tariff
Tariffs in United States history
List of tariffs in the United States
Protectionism in the United States
Great Seal of the United States
71st United States Congress
Pub. L.
71–361
Statutes at Large
Stat.
590
U.S.C.
Willis C. Hawley
R
OR
House Ways and Means
Senate Finance
264–147
53–31
division
recommit
42–44
222–153
Herbert Hoover
19 U.S.C.
ch. 4
protectionist
Senator
Reed Smoot
Representative

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