700:
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.
678:
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:
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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.
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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
804:
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
585:
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
707:
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
677:
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
643:
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.
581:
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
506:
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
731:
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 $
563:
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
699:
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.
395:
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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589:
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
3734:
601:
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
2059:
327:. The Act prompted retaliatory tariffs by many other countries. The Act and tariffs imposed by America's trading partners in retaliation were major factors of the reduction of American exports and imports by 67% during the
669:
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
511:
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.
2102:
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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682:
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.
3619:
2034:
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2063:
452:
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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.
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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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754:, who emphasized the central role of the money supply in causing the depression, considered the Smoot–Hawley Act to be only a minor cause for the US Great Depression.
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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
508:
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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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185:
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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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1918:
778:
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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451:'s promises was to help beleaguered farmers by increasing tariffs on agricultural products. Hoover won, and Republicans maintained comfortable majorities
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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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3594:
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189:
2003:
331:. Economists and economic historians have a consensus view that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression.
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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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37:
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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.
437:
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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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33:
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882:'s amendment bill, which was incorporated into the Trade Facilitation and Trade Enforcement Act of 2015, signed by President
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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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3609:
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2788:
1141:
81:
4169:
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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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53:
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1943:
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222:
625:
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3253:
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2683:
1077:"Where Is There Consensus Among American Economic Historians? The Results of a Survey on Forty Propositions"
743:, when "the American economy expanded at an unprecedented rate", that unemployment fell below 1930s levels.
2434:
Koyama, Kumiko (2009), "The Passage of the Smoot–Hawley Tariff Act: Why Did the President Sign the Bill?",
2382:
1427:
3817:
3574:
3519:
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3034:
1097:
988:
1810:
3903:
3304:
3239:
2964:
2889:
2808:
2601:
570:
529:
405:
2498:
Madsen, Jakob B. (2001), "Trade Barriers and the Collapse of World Trade during the Great Depression",
2224:
Crucini, Mario J. (1994), "Sources of variation in real tariff rates: The United States 1900 to 1940",
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3273:
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2544:
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1236:
779:
456:
295:
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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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3324:
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3314:
2998:
2869:
2813:
2008:
996:
831:
783:
1550:
1347:
651:
The average tariff rate on dutiable imports increased from 40.1% in 1929 to 59.1% in 1932 (+19%).
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3205:
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2332:
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2213:
1980:
1938:
1296:
1228:
1123:
1115:
144:
2406:
Kottman, Richard N. (1975), "Herbert Hoover and the Smoot–Hawley Tariff: Canada, A Case Study",
1368:
1362:
1402:
1396:
1319:
904:, playing a high school economics teacher, references the tariff in a lecture to his students.
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1800:
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1726:
1699:
1693:
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1406:
1372:
1179:
1052:
688:
was also of the opinion that the 1930 Smoot–Hawley Tariff did not cause the Great Depression.
355:
3265:
1919:"Statement by the President on the Forthcoming International Conference on Tariffs and Trade"
1747:
350:
in April 1929, shortly before the Smoot–Hawley Tariff Act passed the House of Representatives
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3199:
2879:
2507:
2471:
2443:
2415:
2316:
2253:
2205:
2115:
2030:
1674:
1531:
The Historical Statistics of the United States, Colonial Times to 1970, Bicentennial Edition
1529:
1220:
1107:
1025:
843:
839:
557:
429:
409:
392:
385:
343:
328:
305:
167:
1051:. Business, society & the state. University of North Carolina Press. pp. 100–103.
362:
met at Geneva in 1927, concluding in its final report: "the time has come to put an end to
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3863:
3232:
3217:
3137:
1342:
787:
751:
685:
462:
374:
370:
226:
1975:
1647:
790:
launched this process in November 1945 with negotiations for the creation of a proposed
369:
By the late 1920s, the US economy had made exceptional gains in productivity because of
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3847:
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3822:
3812:
3807:
3802:
3797:
3792:
3787:
3019:
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2884:
2706:
2620:
2569:
2085:
1720:
1072:
591:
448:
324:
309:
279:
248:
2258:
1398:
The Age of Giant Corporations: A Microeconomic History of American Business, 1914–1970
1224:
835:. He gave Perot a framed picture of Smoot and Hawley shaking hands after its passage.
552:
trying to convince Hoover to veto the bill, calling it "an economic stupidity", while
4184:
3953:
3837:
2491:
2455:
2039:
2004:"Historian Michele Bachmann Blames FDR's 'Hoot–Smalley' Tariffs For Great Depression"
1590:
1273:
1232:
1127:
866:
826:
822:
721:
689:
537:
525:
291:
2344:
857:
calling FATCA "the worst economic idea to come out of Congress since Smoot–Hawley".
728:
failed in 1931, the global deficiencies of the Smoot–Hawley Tariff became apparent.
3211:
3100:
3095:
3090:
3070:
3039:
2101:
992:
883:
870:
740:
717:
666:
660:
553:
541:
533:
378:
230:
208:
113:
17:
965:
766:
campaign platform pledged to lower tariffs. After winning the election, President
238:
2663:
1501:
Changing Differences: Women and the Shaping of American Foreign Policy, 1917–1994
1453:
Mitchener, Kris James; Wandschneider, Kirsten; O'Rourke, Kevin Hjortshøj (2021),
1046:
1012:
Mitchener, Kris James; O'Rourke, Kevin Hjortshøj; Wandschneider, Kirsten (2022).
404:
and for its failure to adjust purchasing power to productive capacity during the
198:
3873:
2933:
2852:
2840:
2097:
1971:
704:
549:
401:
1364:
The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance
323:
below), were the second highest in United States history, exceeded by only the
27:
1930 U.S. trade law placing and raising tariffs on tens of thousands of imports
4146:
2894:
2845:
2771:
2475:
2447:
1516:"U.S. Tariffs are among the lowest in the world – and in the nation's history"
1206:"Log-Rolling and Economic Interests in the Passage of the Smoot–Hawley Tariff"
1111:
912:
821:
mentioned the Smoot–Hawley Tariff as a response to NAFTA objections voiced by
747:
746:
Imports during 1929 were only 4.2% of the US GNP, and exports were only 5.0%.
545:
347:
298:
2328:
400:
The world is paying for its ruthless destruction of life and property in the
4024:
3749:
2320:
1886:
901:
875:
671:
2605:
1572:
2301:
4151:
1030:
1013:
879:
2167:"Gabriel: Ferris Bueller could teach Trump a thing or two about tariffs"
2519:
2483:
2427:
2351:
2336:
2237:
2217:
1119:
954:
818:
725:
606:, with the swing being the largest in Senate history (being equaled in
132:
2670:
1536:
Table: Series U207-212 (Part 2 ZIP file: file named CT1970p2-08.pdf).
433:
363:
313:
175:
2571:
Congress and the Politics of U.S. Foreign Economic Policy, 1929–1976
2511:
2419:
2209:
716:
At first, the tariff seemed to be a success. According to historian
3964:
1824:
U.S. Bureau of the Census; Social Science Research Council (1960),
2076:
Section 307 of the Tariff Act of 1930, quoted in Altschuller, S.,
1826:
Historical Statistics of the United States, Colonial Times to 1957
1678:
1574:
Historical Statistics of the United States: Colonial Times to 1957
461:
338:
2675:
2078:
U.S. Congress Finally Eliminates the Consumptive Demand Exception
573:
spoke against the act during his campaign for President in 1932.
2141:"How 'Ferris Bueller's Day Off' prepared us for Trump's tariffs"
1161:
Mass Production, the Stock Market Crash and the Great Depression
932:(originally enacted as Title III of the Smoot–Hawley Tariff Act)
421:
3968:
3269:
2679:
2268:
Opening America's Market: U.S. Foreign Trade Policy since 1776
1939:"Understand the WTO: The GATT years: from Havana to Marrakesh"
1048:
Opening America's Market: U.S. Foreign Trade Policy Since 1776
2368:
Peddling Protectionism: Smoot–Hawley and the Great Depression
1695:
Peddling Protectionism: Smoot–Hawley and the Great Depression
909:
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
1428:"What History Has to Say about the 'Winners' in Trade Wars"
2640:
Turney, Elaine C. Prange; Northrup, Cynthia Clark (2003),
2035:"Michelle Bachmann Embraces Ignorance, Reverse Causation"
1204:
Irwin, Douglas A.; Randall S. Kroszner (December 1996).
1549:
Office of Analysis and Research Services (March 2017),
874:
meet consumer demand. The exception was removed under
391:
As the global economy entered the first stages of the
1477:. Toronto: University of Toronto Press. p. 246.
1213:
Carnegie-Rochester Conference Series on Public Policy
3025:
Birthplace and childhood home National Historic Site
2352:"The Smoot–Hawley Tariff: A Quantitative Assessment"
2302:"The Smoot–Hawley Tariff: A Quantitative Assessment"
2060:"Senator Rand Paul Introduces Bill to Repeal FATCA!"
1534:. Vol. Part 2. U.S. Census Bureau. p. 888.
1475:
International Economics: In the Age of Globalization
4139:
4048:
4002:
3778:
3303:
3192:
3149:
3125:
3048:
3012:
2942:
2741:
2270:, Chapel Hill: University of North Carolina Press,
1163:. New York, Lincoln, Shanghi: Authors Choice Press.
813:In the discussion leading up to the passage of the
258:
154:
143:
138:
119:
100:
95:
87:
76:
68:
60:
2642:Tariffs and Trade in U.S. History: An Encyclopedia
2619:
2361:, National Bureau of Economic Research, March 1996
1905:A monetary history of the United States, 1867–1960
1903:Friedman, Milton; Schwartz, Anna Jacobson (1963).
1752:. Lionel Robbins Lectures. MIT Press. p. 46.
1589:
1462:, National Bureau of Economic Research, No. w28616
294:trade policies in the United States. Sponsored by
105:
2597:– Classic study of passage of Hawley–Smoot Tariff
1828:, Washington, DC: Govt. Print. Office, p. 70
564:had threatened to resign), and business leaders.
2912:Presidential transition of Franklin D. 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. (1995).
4201:United States federal taxation legislation
3987:
3973:
3965:
3297:United States federal taxation legislation
3288:
3274:
3266:
2698:
2684:
2676:
1866:"The American Economy during World War II"
1864:Tassava, Christopher (February 10, 2008).
1434:. No. International edition. New York
215:Reported by the joint conference committee
2257:
1799:. U.S. Department of State. Garland Pub.
1101:
1029:
3179:1928 United States presidential election
624:
72:Hawley–Smoot Tariff, Smoot–Hawley Tariff
4206:United States federal trade legislation
3066:Hoover Institution Library and Archives
2970:Belgian American Educational Foundation
2607:The Tariff History of the United States
2058:Jatras, James George (April 23, 2013).
1503:. Rutgers University Press. p. 48.
976:
942:
770:and the now-Democratic Congress passed
629:Average Tariff Rates in USA (1821–2016)
264:Moving Americans Privacy Protection Act
2309:The Review of Economics and Statistics
1401:. 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:
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2356:
2348:
2306:
2296:
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2130:
2129:
2128:
2126:
2112:
2106:
2095:
2089:
2074:
2068:
2067:
2062:. Archived from
2055:
2049:
2048:
2043:. Archived from
2027:
2021:
2020:
2018:
2016:
1999:
1993:
1992:
1990:
1988:
1976:"'Hoot–Smalley'"
1968:
1962:
1957:Lloyd, Lewis E.
1955:
1949:
1947:
1935:
1929:
1928:
1915:
1909:
1908:
1900:
1894:
1880:
1874:
1873:
1861:
1855:
1849:
1843:
1837:
1831:
1829:
1821:
1815:
1814:
1809:. Archived from
1790:
1784:
1777:
1771:
1770:
1768:
1766:
1743:
1737:
1736:
1716:
1710:
1709:
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1569:
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1470:
1464:
1463:
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1423:
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1416:
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1381:
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1334:
1328:
1327:
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1310:
1308:
1306:
1293:
1285:
1279:
1278:
1265:
1252:
1251:
1249:
1247:
1242:on July 18, 2011
1241:
1235:. Archived from
1210:
1201:
1190:
1189:
1171:
1165:
1164:
1156:
1150:
1149:
1138:
1132:
1131:
1105:
1081:
1069:
1063:
1062:
1042:
1036:
1035:
1033:
1018:Economic Journal
1009:
1000:
986:
980:
974:
968:
947:
844:Great Depression
840:Michele Bachmann
558:Thomas W. Lamont
500:
494:
488:
482:
476:
470:
430:Willis C. Hawley
393:Great Depression
344:Willis C. Hawley
329:Great Depression
306:Willis C. Hawley
259:Major amendments
251:on June 17, 1930
195:Passed the House
168:Willis C. Hawley
147:sections created
123:
111:
107:
56:
49:
21:
4236:
4235:
4231:
4230:
4229:
4227:
4226:
4225:
4181:
4180:
4179:
4174:
4156:
4135:
4044:
3998:
3993:
3963:
3958:
3939:1988: Canada FT
3889:1921: Emergency
3884:1913: Underwood
3813:1824: Sectional
3774:
3660:2007 (Mortgage)
3560:1983 (PL 98-76)
3555:1983 (PL 98-67)
3306:
3299:
3294:
3264:
3259:
3223:
3218:Margaret Hoover
3188:
3145:
3140:De re metallica
3121:
3044:
3008:
2938:
2804:National anthem
2745:
2737:
2728:
2717:
2709:
2704:
2652:
2647:
2639:
2634:
2617:
2610:
2600:
2587:
2582:
2567:
2557:EH Encyclopedia
2550:
2538:
2525:
2512:10.2307/1061574
2497:
2461:
2433:
2420:10.2307/2936217
2405:
2400:
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2378:
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2354:
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2210:10.2307/1061208
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2084:, published by
2075:
2071:
2057:
2056:
2052:
2047:on May 2, 2009.
2029:
2028:
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2014:
2012:
2001:
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1996:
1986:
1984:
1970:
1969:
1965:
1956:
1952:
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1932:
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1791:
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1762:
1760:
1745:
1744:
1740:
1733:
1725:. Grove Press.
1718:
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1103:10.1.1.482.4975
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1073:Whaples, Robert
1071:
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1011:
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878:Representative
863:
811:
788:Harry S. Truman
760:
752:Milton Friedman
714:
712:After enactment
686:Milton Friedman
657:
641:
633:Main articles:
623:
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518:
502:
498:
496:
492:
490:
486:
484:
480:
478:
474:
472:
468:
375:mass production
371:electrification
337:
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245:Signed into law
121:
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77:Enacted by
44:
32:Main articles:
28:
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3864:1890: McKinley
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2602:Taussig, F. W.
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2506:(4): 848–868,
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1907:. p. 342.
1895:
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604:1932 elections
592:British Empire
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477: Two Nays
473:
471: Two Yeas
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449:Herbert Hoover
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310:Herbert Hoover
303:Representative
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868:
867:convict labor
860:
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722:Creditanstalt
719:
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691:
690:Douglas Irwin
687:
683:
681:
675:
673:
668:
664:
662:
654:
652:
649:
645:
640:
636:
627:
621:Tariff levels
620:
618:
615:
613:
609:
605:
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597:
593:
587:
583:
576:
574:
572:
568:
565:
561:
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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:
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439:
435:
431:
427:
423:
419:
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403:
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376:
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367:
365:
361:
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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:
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149:
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99:
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90:
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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:. Retrieved
2170:
2160:
2148:. Retrieved
2144:
2134:
2123:, retrieved
2119:
2110:
2093:
2081:
2072:
2064:the original
2053:
2045:the original
2038:
2025:
2015:December 10,
2013:. Retrieved
2007:
1997:
1987:December 10,
1985:. Retrieved
1979:
1972:Benen, Steve
1966:
1958:
1953:
1942:
1933:
1922:
1913:
1904:
1898:
1890:
1878:
1869:
1859:
1847:
1835:
1825:
1819:
1811:the original
1795:
1788:
1780:
1775:
1763:. Retrieved
1748:
1741:
1721:
1714:
1694:
1687:
1668:
1656:. Retrieved
1651:
1626:. Retrieved
1622:
1612:
1591:
1583:
1573:
1551:
1530:
1524:
1509:
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884:Barack Obama
871:forced labor
864:
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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
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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
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145:U.S.C.
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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
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1292:(PDF)
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1124:S2CID
1116:JSTOR
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1080:(PDF)
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582:31%.
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280:ch. 4
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235:House
231:42–44
209:53–31
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3924:1979
3914:1962
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3184:1932
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3013:Life
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2719:31st
2628:ISBN
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2127:2023
2120:IMDb
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