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United States · Economy & Business · Hard
What was the name of the 1930 tariff act, signed by President Hoover, that raised import duties to record levels and is widely blamed for deepening the Great Depression?
Answer: Smoot-Hawley Tariff Act — The Smoot-Hawley Tariff Act of 1930 raised tariffs on over 20,000 imported goods, triggering retaliatory tariffs and a collapse in international trade.
- A Fordney-McCumber Tariff
- B Underwood Tariff
- C Smoot-Hawley Tariff Act ✓
- D McKinley Tariff
The Smoot-Hawley Tariff Act of 1930 raised tariffs on over 20,000 imported goods, triggering retaliatory tariffs and a collapse in international trade.