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  • The Hawley-Smoot Tariff Act

    From JAB@21:1/5 to All on Wed Nov 27 12:34:59 2024
    AI Overview

    The Hawley-Smoot Tariff Act, also known as the Smoot-Hawley Tariff,
    was a law passed in 1930 that raised tariffs on imported goods in an
    attempt to protect American farmers and businesses:

    Purpose
    The law was intended to raise prices for farm products by increasing
    tariffs on agricultural imports.

    Supporters
    The law was sponsored by Senator Reed Smoot of Utah and Representative
    Willis Hawley of Oregon.

    Signature
    President Herbert Hoover signed the law into effect on June 17, 1930.
    Impact

    The law raised tariffs on more than 20,000 imported goods by an
    average of 40-60%. The law led to a decline in global trade by 65%.

    Effect on the Great Depression
    The law is widely considered to have made the Great Depression worse.
    The law was driven by political considerations rather than economic
    ones, and was not well received by voters.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From JAB@21:1/5 to JAB on Wed Nov 27 21:25:43 2024
    On Wed, 27 Nov 2024 12:34:59 -0600, JAB <here@is.invalid> wrote:

    Signature
    President Herbert Hoover signed the law into effect on June 17, 1930.
    Impact

    The law raised tariffs on more than 20,000 imported goods by an
    average of 40-60%. The law led to a decline in global trade by 65%.

    Effect on the Great Depression
    The law is widely considered to have made the Great Depression worse.
    The law was driven by political considerations rather than economic
    ones, and was not well received by voters.


    CEOs are warning Trump tariffs will hit consumers: 'Higher prices are
    not helpful'
    ===============================

    Trump's bullshit has consequences....suck it up suckers/losers.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)