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For your notes
Your notes should answer the following questions!
Your notes should answer the following questions!
If you don't know what to write: Write the question & answer!
What is a tariff? Purpose?
2. What did the Hawley-Smoot Tariff do?
3. How did the Hawley-Smoot Tariff impact world trade?
Collapse of World Trade
Collapse of World Trade
U.S. tariffs (taxes on foreign goods) had been used to protect American businesses. Typically, if tariffs were high, then Americans would buy more American made goods and give Americans jobs.
U.S. tariffs (taxes on foreign goods) had been used to protect American businesses. Typically, if tariffs were high, then Americans would buy more American made goods and give Americans jobs.
Once the Depression sets in, President Hoover made the decision to pass a high tariff designed to encourage Americans to buy American-made goods. This was called the Hawley-Smoot Tariff.
Once the Depression sets in, President Hoover made the decision to pass a high tariff designed to encourage Americans to buy American-made goods. This was called the Hawley-Smoot Tariff.
But there was a problem, as we raised tariffs on European goods, European nations stopped trading with us and lost money. Then, they could not afford to pay America back for their war loans from World War I.
But there was a problem, as we raised tariffs on European goods, European nations stopped trading with us and lost money. Then, they could not afford to pay America back for their war loans from World War I.
So, the Hawley-Smoot Tariff only worsened the Depression in America and caused the Depression to spread to the rest of the world.
So, the Hawley-Smoot Tariff only worsened the Depression in America and caused the Depression to spread to the rest of the world.
Look at the video to see the best summary of the Hawley Smoot Tariff ever!
Look at the video to see the best summary of the Hawley Smoot Tariff ever!
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