Smoot-Hawley

On June 17, 1930, President Herbert Hoover signed into law, the Smoot-Hawley tariff, which raised import duties an average of 59% on more than 25,000 agricultural commodities and manufactured goods.  Remember, a year earlier, the Great Depression began with the stock market crashing, and huge amounts of unemployment.  The market crashed again when Smoot-Hawley began, […]