Question

summary Economist # 6: The government tried to counteract the depression with raising and keeping tariffs (taxes on goods from other countries) high. Trade between countries was hurt severely. There was already a decline in world trade because European nations were still recovering from World War I and could not afford American goods. High tariffs made it difficult for European nations to sell products to the United States. As a result, Europeans had even less money to buy American goods. Declining world trade also hurt American manufacturers. The government should have lowered these tariffs.

Answer 1

Answer: The Tariff Act of 1930 commonly known as the Hawley–Smoot Tariff or Smoot–Hawley Tariff, ... The act raised US tariffs on over 20,000 imported goods.

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