Question

For which industry did Hoover want to revise tariffs? Why was this the case?

a) Hoover wanted to revise tariffs for the steel industry to boost domestic steel production.
b) Hoover wanted to revise tariffs for the agricultural industry to support farmers during the Depression.
c) Hoover wanted to revise tariffs for the technology industry to encourage innovation.
d) Hoover wanted to revise tariffs for the textile industry to create jobs.

Answer 1

The correct answer is option b) Hoover wanted to revise tariffs for the agricultural industry to support farmers during the Depression.

Step-by-step explanation:

President Herbert Hoover wanted to revise tariffs for the agricultural industry to support farmers during the Depression. This decision led to the enactment of the Smoot-Hawley Tariff of 1930, which sharply increased tariffs on imported goods, including agricultural products. The idea was to limit foreign imports, thereby helping domestic producers increase their sales.

However, the move backfired as foreign governments retaliated with their own tariffs on American goods, exacerbating the negative effects of the global depression. The tariff escalated economic difficulties by causing a significant drop in international trade when countries raised tariffs to defend their economies against imports from the United States and elsewhere.